The Bank of Nova Scotia (NYSE:BNS) Given Consensus Rating of “Reduce” by Brokerages

Shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) have been given a consensus recommendation of “Reduce” by the five brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $68.00.

Several equities research analysts have weighed in on the company. StockNews.com cut Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. UBS Group started coverage on Bank of Nova Scotia in a report on Tuesday, July 2nd. They issued a “neutral” rating for the company.

Institutional Investors Weigh In On Bank of Nova Scotia

Hedge funds have recently made changes to their positions in the stock. Mather Group LLC. lifted its stake in shares of Bank of Nova Scotia by 1,388.9% during the 2nd quarter. Mather Group LLC. now owns 536 shares of the bank’s stock worth $25,000 after purchasing an additional 500 shares during the last quarter. Blue Trust Inc. increased its position in Bank of Nova Scotia by 3,127.8% during the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock valued at $27,000 after buying an additional 563 shares in the last quarter. Bruce G. Allen Investments LLC increased its position in Bank of Nova Scotia by 70.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock valued at $30,000 after buying an additional 242 shares in the last quarter. Fifth Third Bancorp increased its position in Bank of Nova Scotia by 71.6% during the 4th quarter. Fifth Third Bancorp now owns 858 shares of the bank’s stock valued at $42,000 after buying an additional 358 shares in the last quarter. Finally, Global Retirement Partners LLC increased its position in Bank of Nova Scotia by 144.6% during the 1st quarter. Global Retirement Partners LLC now owns 959 shares of the bank’s stock valued at $50,000 after buying an additional 567 shares in the last quarter. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Price Performance

Shares of BNS stock opened at $46.67 on Friday. Bank of Nova Scotia has a twelve month low of $39.79 and a twelve month high of $51.98. The stock has a market capitalization of $57.38 billion, a price-to-earnings ratio of 10.51, a P/E/G ratio of 1.70 and a beta of 1.04. The stock has a fifty day simple moving average of $46.45 and a two-hundred day simple moving average of $47.46. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57.

Bank of Nova Scotia (NYSE:BNS) (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 during the quarter, compared to analysts’ expectations of $6.10 billion. On average, analysts predict that Bank of Nova Scotia will post 4.82 EPS for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Wednesday, July 3rd were paid a dividend of $0.769 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date was Wednesday, July 3rd. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 69.82%.

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.