M&R Capital Management Inc. Has $139,000 Stock Position in The Bank of Nova Scotia (NYSE:BNS)

M&R Capital Management Inc. lowered its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 21.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,230 shares of the bank’s stock after selling 600 shares during the period. M&R Capital Management Inc.’s holdings in The Bank of Nova Scotia were worth $139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Davis Rea LTD. grew its stake in The Bank of Nova Scotia by 0.4% during the fourth quarter. Davis Rea LTD. now owns 47,569 shares of the bank’s stock worth $2,565,000 after purchasing an additional 190 shares during the period. Captrust Financial Advisors grew its stake in The Bank of Nova Scotia by 14.6% in the fourth quarter. Captrust Financial Advisors now owns 1,705 shares of the bank’s stock valued at $92,000 after acquiring an additional 217 shares during the period. Princeton Global Asset Management LLC grew its stake in The Bank of Nova Scotia by 26.3% in the fourth quarter. Princeton Global Asset Management LLC now owns 1,200 shares of the bank’s stock valued at $65,000 after acquiring an additional 250 shares during the period. Glenmede Trust Co. NA grew its stake in The Bank of Nova Scotia by 6.0% in the fourth quarter. Glenmede Trust Co. NA now owns 4,908 shares of the bank’s stock valued at $264,000 after acquiring an additional 276 shares during the period. Finally, Parallel Advisors LLC grew its stake in The Bank of Nova Scotia by 13.4% in the fourth quarter. Parallel Advisors LLC now owns 2,653 shares of the bank’s stock valued at $143,000 after acquiring an additional 313 shares during the period. 45.88% of the stock is owned by institutional investors and hedge funds.

The Bank of Nova Scotia stock opened at $61.91 on Thursday. The Bank of Nova Scotia has a 52 week low of $34.73 and a 52 week high of $64.38. The business has a 50-day simple moving average of $61.25 and a 200 day simple moving average of $52.21. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.40. The stock has a market cap of $75.08 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 1.11 and a beta of 0.97.

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Monday, February 22nd. The bank reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.69. The Bank of Nova Scotia had a return on equity of 10.47% and a net margin of 15.57%. The firm had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $7.58 billion. During the same period in the prior year, the business earned $1.83 EPS. On average, research analysts anticipate that The Bank of Nova Scotia will post 4.73 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 28th. Stockholders of record on Tuesday, April 6th will be issued a $0.7133 dividend. This is a boost from The Bank of Nova Scotia’s previous quarterly dividend of $0.68. This represents a $2.85 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date is Monday, April 5th. The Bank of Nova Scotia’s dividend payout ratio is presently 70.93%.

BNS has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on The Bank of Nova Scotia from $77.00 to $84.00 and gave the company an “outperform” rating in a research report on Wednesday, February 24th. Zacks Investment Research upgraded The Bank of Nova Scotia from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a report on Wednesday, February 24th. BMO Capital Markets lifted their price target on The Bank of Nova Scotia from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, February 24th. TD Securities boosted their target price on The Bank of Nova Scotia from $79.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, February 24th. Finally, CIBC upgraded The Bank of Nova Scotia from a “neutral” rating to an “outperformer” rating in a research note on Monday, March 8th. Two research analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $74.73.

About The Bank of Nova Scotia

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 Banking and Markets, and Global Wealth Management segments.

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

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