Bank of Nova Scotia (BNS) Shares Sold by Trust Co. of Vermont

Trust Co. of Vermont trimmed its stake in shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,020 shares of the bank’s stock after selling 260 shares during the quarter. Trust Co. of Vermont’s holdings in Bank of Nova Scotia were worth $1,014,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in BNS. Moors & Cabot Inc. raised its stake in Bank of Nova Scotia by 100.1% during the 1st quarter. Moors & Cabot Inc. now owns 19,158 shares of the bank’s stock valued at $1,020,000 after purchasing an additional 9,582 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Bank of Nova Scotia in the 1st quarter worth about $214,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its holdings in shares of Bank of Nova Scotia by 3.5% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 69,760 shares of the bank’s stock worth $3,702,000 after purchasing an additional 2,380 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Bank of Nova Scotia by 3.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 274,536 shares of the bank’s stock worth $14,619,000 after purchasing an additional 9,727 shares during the last quarter. Finally, Atlas Capital Advisors LLC grew its holdings in shares of Bank of Nova Scotia by 456.6% in the 1st quarter. Atlas Capital Advisors LLC now owns 462 shares of the bank’s stock worth $25,000 after purchasing an additional 379 shares during the last quarter. Institutional investors own 45.25% of the company’s stock.

BNS has been the topic of several analyst reports. Zacks Investment Research raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating and set a $64.00 target price on the stock in a report on Tuesday, January 29th. TD Securities lowered shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating in a report on Tuesday, February 26th. CIBC lowered shares of Bank of Nova Scotia from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, February 27th. Finally, Desjardins reissued an “average” rating and set a $81.00 price objective on shares of Bank of Nova Scotia in a report on Wednesday, February 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Bank of Nova Scotia presently has a consensus rating of “Hold” and an average target price of $79.50.

Bank of Nova Scotia stock traded down $0.21 during trading hours on Wednesday, reaching $51.61. 706,100 shares of the company’s stock traded hands, compared to its average volume of 755,616. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.27. Bank of Nova Scotia has a fifty-two week low of $48.34 and a fifty-two week high of $60.91. The company has a market cap of $64.22 billion, a PE ratio of 9.49, a PEG ratio of 1.96 and a beta of 1.17.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its earnings results on Tuesday, May 28th. The bank reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.04). The business had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.60 billion. Bank of Nova Scotia had a net margin of 19.86% and a return on equity of 13.93%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.70 earnings per share. Research analysts forecast that Bank of Nova Scotia will post 5.33 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Tuesday, July 2nd will be given a $0.65 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.04%. Bank of Nova Scotia’s dividend payout ratio is 47.98%.

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About Bank of Nova Scotia

The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company 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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