The Bank of Nova Scotia (NYSE:BNS) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC trimmed its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 3.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,717 shares of the bank’s stock after selling 2,015 shares during the period. Metis Global Partners LLC’s holdings in Bank of Nova Scotia were worth $2,927,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BNS. Vanguard Group Inc. boosted its holdings in Bank of Nova Scotia by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 47,862,189 shares of the bank’s stock valued at $2,478,304,000 after acquiring an additional 891,157 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of Bank of Nova Scotia by 16.1% in the first quarter. 1832 Asset Management L.P. now owns 17,015,877 shares of the bank’s stock valued at $881,082,000 after purchasing an additional 2,361,136 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Bank of Nova Scotia by 4.7% in the second quarter. Mackenzie Financial Corp now owns 15,091,880 shares of the bank’s stock valued at $690,438,000 after purchasing an additional 683,946 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake 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 worth $753,658,000 after buying an additional 2,178,633 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Bank of Nova Scotia by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 9,281,724 shares of the bank’s stock worth $424,497,000 after buying an additional 57,796 shares in the last quarter. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on BNS. TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Cibc World Mkts raised 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $69.00.

Bank of Nova Scotia Price Performance

Shares of BNS opened at $53.84 on Friday. The firm has a market capitalization of $66.63 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.60 and a beta of 1.05. The firm’s fifty day simple moving average is $52.84 and its 200-day simple moving average is $48.99. The Bank of Nova Scotia has a twelve month low of $41.80 and a twelve month high of $55.12. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61.

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

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd were paid a $0.768 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $3.07 annualized dividend and a yield of 5.71%. Bank of Nova Scotia’s dividend payout ratio is currently 74.88%.

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.