West Family Investments Inc. Trims Position in The Bank of Nova Scotia (NYSE:BNS)

West Family Investments Inc. trimmed its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 8.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,702 shares of the bank’s stock after selling 461 shares during the period. West Family Investments Inc.’s holdings in Bank of Nova Scotia were worth $256,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Mather Group LLC. increased its stake in shares of Bank of Nova Scotia by 1,388.9% in the second quarter. Mather Group LLC. now owns 536 shares of the bank’s stock worth $25,000 after purchasing an additional 500 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Bank of Nova Scotia by 3,127.8% in the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock valued at $27,000 after purchasing an additional 563 shares during the last quarter. City State Bank purchased a new position in Bank of Nova Scotia during the third quarter worth $57,000. EverSource Wealth Advisors LLC boosted its stake in shares of Bank of Nova Scotia by 102.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,605 shares of the bank’s stock worth $83,000 after purchasing an additional 811 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Bank of Nova Scotia during the second quarter valued at approximately $104,000. 49.13% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Trading Up 1.6 %

NYSE BNS opened at $56.12 on Wednesday. The Bank of Nova Scotia has a 1 year low of $41.80 and a 1 year high of $56.17. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $69.84 billion, a PE ratio of 13.43, a P/E/G ratio of 1.60 and a beta of 1.05. The company has a fifty day moving average of $53.15 and a 200 day moving average of $49.25.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data 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 business 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 business’s revenue was up 3.7% on a year-over-year basis. Research analysts forecast that The Bank of Nova Scotia will post 4.79 earnings per share for the current year.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd were paid a dividend of $0.768 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $3.07 dividend on an annualized basis and a dividend yield of 5.47%. Bank of Nova Scotia’s dividend payout ratio is currently 74.88%.

Wall Street Analyst Weigh In

BNS has been the topic of a number of research analyst reports. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday. Cibc World Mkts upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th. Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday. TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

Bank of Nova Scotia 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.