Euro Pacific Asset Management LLC Sells 1,694 Shares of The Bank of Nova Scotia (NYSE:BNS)

Euro Pacific Asset Management LLC lowered its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 237,530 shares of the bank’s stock after selling 1,694 shares during the quarter. Bank of Nova Scotia comprises 2.4% of Euro Pacific Asset Management LLC’s investment portfolio, making the stock its 16th largest holding. Euro Pacific Asset Management LLC’s holdings in Bank of Nova Scotia were worth $12,954,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BNS. Pathway Financial Advisers LLC lifted its stake in shares of Bank of Nova Scotia by 5,380.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank’s stock valued at $216,447,000 after buying an additional 3,899,760 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Bank of Nova Scotia in the second quarter worth $120,463,000. 1832 Asset Management L.P. lifted its holdings in Bank of Nova Scotia by 16.1% during the 1st quarter. 1832 Asset Management L.P. now owns 17,015,877 shares of the bank’s stock worth $881,082,000 after purchasing an additional 2,361,136 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Bank of Nova Scotia by 17.6% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,563,337 shares of the bank’s stock valued at $753,658,000 after buying an additional 2,178,633 shares in the last quarter. Finally, Nicola Wealth Management LTD. purchased a new stake in shares of Bank of Nova Scotia in the first quarter worth about $77,670,000. 49.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BNS has been the subject of several analyst reports. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Cibc World Mkts raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $69.00.

Bank of Nova Scotia Stock Up 0.2 %

Shares of BNS opened at $53.93 on Friday. The firm has a market cap of $66.74 billion, a P/E ratio of 12.90, a P/E/G ratio of 1.59 and a beta of 1.05. The Bank of Nova Scotia has a 1 year low of $41.80 and a 1 year high of $55.12. The stock has a 50 day simple moving average of $52.97 and a two-hundred day simple moving average of $49.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 1.02.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, August 27th. The bank reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.01. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The company had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter last year, the company earned $1.30 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. On average, analysts forecast that The Bank of Nova Scotia will post 4.79 earnings per share for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd were issued a dividend of $0.768 per share. This represents a $3.07 annualized dividend and a yield of 5.70%. The ex-dividend date of this dividend was Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio is presently 74.88%.

About Bank of Nova Scotia

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.