Bank of Nova Scotia (BNS) Sees Unusually-High Trading Volume

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) shares saw an uptick in trading volume on Monday . 1,414,869 shares changed hands during trading, an increase of 87% from the previous session’s volume of 754,730 shares.The stock last traded at $53.17 and had previously closed at $53.08.

A number of brokerages have recently weighed in on BNS. TD Securities lowered Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research report on Tuesday, February 26th. Zacks Investment Research raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Desjardins reaffirmed an “average” rating and set a $81.00 target price on shares of Bank of Nova Scotia in a research report on Wednesday, February 27th. Finally, Barclays reaffirmed a “buy” rating on shares of Bank of Nova Scotia in a research report on Friday, May 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $79.50.

The firm has a market capitalization of $65.24 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 1.97 and a beta of 1.17. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.27.



Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Tuesday, February 26th. The bank reported $1.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.42 by ($0.10). Bank of Nova Scotia had a return on equity of 13.93% and a net margin of 19.86%. The company had revenue of $7.60 billion for the quarter, compared to the consensus estimate of $7.78 billion. During the same quarter last year, the company posted $1.74 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities analysts expect that Bank of Nova Scotia will post 5.36 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Tuesday, April 2nd were paid a $0.663 dividend. This represents a $2.65 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date of this dividend was Monday, April 1st. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.65. Bank of Nova Scotia’s dividend payout ratio is 47.98%.

A number of large investors have recently made changes to their positions in BNS. Atlas Capital Advisors LLC grew its stake in shares of Bank of Nova Scotia by 456.6% during the 1st quarter. Atlas Capital Advisors LLC now owns 462 shares of the bank’s stock worth $25,000 after acquiring an additional 379 shares during the period. Private Capital Group LLC grew its stake in shares of Bank of Nova Scotia by 9,420.0% during the 1st quarter. Private Capital Group LLC now owns 476 shares of the bank’s stock worth $25,000 after acquiring an additional 471 shares during the period. Lindbrook Capital LLC bought a new position in shares of Bank of Nova Scotia during the 4th quarter worth $32,000. Pinnacle Bank bought a new position in shares of Bank of Nova Scotia during the 4th quarter worth $37,000. Finally, Avestar Capital LLC grew its stake in shares of Bank of Nova Scotia by 630.8% during the 1st quarter. Avestar Capital LLC now owns 782 shares of the bank’s stock worth $39,000 after acquiring an additional 675 shares during the period. Hedge funds and other institutional investors own 48.80% of the company’s stock.

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About Bank of Nova Scotia (NYSE:BNS)

The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

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