Gratus Capital LLC Trims Holdings in Bank of Nova Scotia (BNS)

Gratus Capital LLC reduced its position in shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 29.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,865 shares of the bank’s stock after selling 4,150 shares during the period. Gratus Capital LLC’s holdings in Bank of Nova Scotia were worth $588,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its holdings in Bank of Nova Scotia by 193.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,664 shares of the bank’s stock worth $152,000 after purchasing an additional 1,757 shares during the period. Zions Bancorporation purchased a new position in Bank of Nova Scotia during the 3rd quarter worth $160,000. CAPROCK Group Inc. purchased a new position in Bank of Nova Scotia during the 3rd quarter worth $200,000. Capital Investment Advisors LLC purchased a new position in Bank of Nova Scotia during the 3rd quarter worth $206,000. Finally, BNP Paribas Arbitrage SA purchased a new position in Bank of Nova Scotia during the 2nd quarter worth $200,000. Institutional investors own 46.42% of the company’s stock.

Bank of Nova Scotia stock opened at $53.08 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $65.17 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 1.55 and a beta of 1.25. Bank of Nova Scotia has a 1-year low of $52.09 and a 1-year high of $66.78.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Tuesday, August 28th. The bank reported $1.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.39. The firm had revenue of $7.18 billion during the quarter, compared to analysts’ expectations of $7.34 billion. Bank of Nova Scotia had a return on equity of 14.62% and a net margin of 21.55%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.66 EPS. As a group, equities research analysts expect that Bank of Nova Scotia will post 5.32 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 29th. Stockholders of record on Tuesday, October 2nd were given a $0.6539 dividend. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Monday, October 1st. This represents a $2.62 dividend on an annualized basis and a dividend yield of 4.93%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 50.19%.

Several research analysts have commented on the company. Canaccord Genuity downgraded Bank of Nova Scotia from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Zacks Investment Research upgraded Bank of Nova Scotia from a “sell” rating to a “hold” rating and set a $65.00 price target on the stock in a report on Wednesday, August 8th. Desjardins reiterated an “average” rating and issued a $85.00 price target on shares of Bank of Nova Scotia in a report on Thursday, November 8th. Barclays reiterated an “average” rating and issued a $85.00 price target on shares of Bank of Nova Scotia in a report on Friday, November 16th. Finally, TD Securities reiterated a “buy” rating on shares of Bank of Nova Scotia in a report on Monday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $81.00.

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About Bank of Nova Scotia

The Bank of Nova Scotia provides various financial services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. It 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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Institutional Ownership by Quarter for Bank of Nova Scotia (NYSE:BNS)

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