Sumitomo Mitsui Trust Holdings Inc. Acquires 20,192 Shares of The Bank of Nova Scotia (NYSE:BNS)

Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 0.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,814,054 shares of the bank’s stock after purchasing an additional 20,192 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Bank of Nova Scotia were worth $145,661,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bruce G. Allen Investments LLC increased its holdings in shares of Bank of Nova Scotia by 70.6% during the first quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock worth $30,000 after purchasing an additional 242 shares during the period. Fifth Third Bancorp increased its stake in Bank of Nova Scotia by 71.6% in the fourth quarter. Fifth Third Bancorp now owns 858 shares of the bank’s stock valued at $42,000 after acquiring an additional 358 shares during the last quarter. Galibier Capital Management Ltd. bought a new position in Bank of Nova Scotia in the first quarter valued at approximately $76,000. Addison Advisors LLC increased its stake in Bank of Nova Scotia by 88.6% in the fourth quarter. Addison Advisors LLC now owns 2,948 shares of the bank’s stock valued at $144,000 after acquiring an additional 1,385 shares during the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in Bank of Nova Scotia by 43.9% in the fourth quarter. Hexagon Capital Partners LLC now owns 3,986 shares of the bank’s stock valued at $194,000 after acquiring an additional 1,216 shares during the last quarter. 49.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BNS shares. Barclays started coverage on shares of Bank of Nova Scotia in a research note on Wednesday, March 20th. They issued an “underweight” rating and a $70.00 price objective on the stock. UBS Group started coverage on shares of Bank of Nova Scotia in a research note on Tuesday. They set a “neutral” rating on the stock. Finally, StockNews.com cut shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Wednesday, May 29th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $68.00.

Bank of Nova Scotia Trading Down 0.4 %

Shares of NYSE:BNS traded down $0.18 during mid-day trading on Wednesday, reaching $45.62. 449,350 shares of the company’s stock were exchanged, compared to its average volume of 1,935,959. The firm has a market capitalization of $56.09 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 1.69 and a beta of 1.04. The business’s fifty day moving average price is $46.90 and its 200-day moving average price is $47.65. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.03. The Bank of Nova Scotia has a twelve month low of $39.79 and a twelve month high of $51.98.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, May 28th. The bank reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. The company had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.10 billion. Bank of Nova Scotia had a net margin of 10.40% and a return on equity of 11.40%. On average, research analysts predict that The Bank of Nova Scotia will post 4.82 EPS for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Wednesday, July 3rd will be issued a $0.769 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $3.08 annualized dividend and a yield of 6.74%. Bank of Nova Scotia’s payout ratio is 70.72%.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.