Gold Investment Management Ltd. Purchases 292 Shares of The Bank of Nova Scotia (NYSE:BNS)

Gold Investment Management Ltd. grew its position in The Bank of Nova Scotia (NYSE:BNSFree Report) (TSE:BNS) by 0.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,564 shares of the bank’s stock after buying an additional 292 shares during the quarter. Bank of Nova Scotia makes up approximately 2.3% of Gold Investment Management Ltd.’s portfolio, making the stock its 8th largest position. Gold Investment Management Ltd.’s holdings in Bank of Nova Scotia were worth $5,773,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its stake in Bank of Nova Scotia by 1.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,432 shares of the bank’s stock worth $799,000 after purchasing an additional 219 shares in the last quarter. Power Corp of Canada lifted its stake in Bank of Nova Scotia by 1.9% in the fourth quarter. Power Corp of Canada now owns 12,037 shares of the bank’s stock valued at $587,000 after buying an additional 226 shares during the period. Bruce G. Allen Investments LLC raised its position 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. Metis Global Partners LLC grew its holdings in Bank of Nova Scotia by 0.4% during the fourth quarter. Metis Global Partners LLC now owns 59,065 shares of the bank’s stock worth $2,875,000 after buying an additional 258 shares in the last quarter. Finally, Pacifica Partners Inc. grew its stake in Bank of Nova Scotia by 1.5% in the 4th quarter. Pacifica Partners Inc. now owns 19,185 shares of the bank’s stock valued at $851,000 after purchasing an additional 285 shares during the period. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BNS. StockNews.com cut Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. UBS Group initiated coverage on Bank of Nova Scotia in a research note on Tuesday, July 2nd. They set a “neutral” rating for the company. Finally, Barclays began coverage on Bank of Nova Scotia in a research note on Wednesday, March 20th. They issued an “underweight” rating and a $70.00 price target for the company. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, Bank of Nova Scotia has an average rating of “Hold” and an average target price of $68.00.

Check Out Our Latest Report on BNS

Bank of Nova Scotia Stock Performance

Shares of BNS stock traded up $0.62 on Wednesday, hitting $46.33. The company had a trading volume of 2,124,968 shares, compared to its average volume of 1,923,430. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.57. The Bank of Nova Scotia has a twelve month low of $39.79 and a twelve month high of $51.98. The company has a 50-day moving average price of $46.80 and a 200-day moving average price of $47.58. The firm has a market cap of $56.96 billion, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 1.67 and a beta of 1.04.

Bank of Nova Scotia (NYSE:BNSGet Free Report) (TSE:BNS) last issued its earnings results on Tuesday, May 28th. The bank reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.02. Bank of Nova Scotia had a return on equity of 11.40% and a net margin of 10.40%. The business had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $6.10 billion. As a group, equities research analysts predict that The Bank of Nova Scotia will post 4.82 earnings per share for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The firm 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. This represents a $3.08 annualized dividend and a yield of 6.64%. The ex-dividend date is Wednesday, July 3rd. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 69.14%.

About Bank of Nova Scotia

(Free Report)

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.

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Institutional Ownership by Quarter for Bank of Nova Scotia (NYSE:BNS)

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