Gulf International Bank UK Ltd Has $411,000 Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

Gulf International Bank UK Ltd raised its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 8.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,953 shares of the bank’s stock after purchasing an additional 634 shares during the period. Gulf International Bank UK Ltd’s holdings in Bank of Nova Scotia were worth $411,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Bank of Nova Scotia by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 46,971,032 shares of the bank’s stock valued at $2,287,020,000 after purchasing an additional 1,279,934 shares during the last quarter. Toronto Dominion Bank grew its holdings in Bank of Nova Scotia by 3.4% during the third quarter. Toronto Dominion Bank now owns 22,567,680 shares of the bank’s stock valued at $1,028,861,000 after purchasing an additional 736,807 shares during the last quarter. TD Asset Management Inc grew its holdings in Bank of Nova Scotia by 23.2% during the fourth quarter. TD Asset Management Inc now owns 19,841,901 shares of the bank’s stock valued at $970,577,000 after purchasing an additional 3,731,541 shares during the last quarter. Norges Bank acquired a new position in Bank of Nova Scotia during the fourth quarter valued at approximately $652,409,000. Finally, Scotia Capital Inc. grew its holdings in Bank of Nova Scotia by 1.4% during the third quarter. Scotia Capital Inc. now owns 13,387,765 shares of the bank’s stock valued at $600,211,000 after purchasing an additional 183,008 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BNS. Barclays began coverage on Bank of Nova Scotia in a research report on Wednesday, March 20th. They issued an “underweight” rating and a $70.00 price objective for the company. StockNews.com cut Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Wednesday, May 29th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Hold” and an average price target of $68.00.

Bank of Nova Scotia Stock Down 0.4 %

BNS opened at $45.12 on Monday. The Bank of Nova Scotia has a 1-year low of $39.79 and a 1-year high of $51.98. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $55.48 billion, a price-to-earnings ratio of 10.16, a P/E/G ratio of 1.68 and a beta of 1.05. The business has a 50 day moving average of $47.07 and a 200-day moving average of $47.64.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, May 28th. The bank reported $1.16 EPS for the quarter, topping the consensus estimate of $1.14 by $0.02. The firm had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $6.10 billion. Bank of Nova Scotia had a return on equity of 11.40% and a net margin of 10.40%. As a group, sell-side analysts anticipate that The Bank of Nova Scotia will post 4.82 earnings per share for the current year.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Wednesday, July 3rd will be given a $0.769 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $3.08 annualized dividend and a yield of 6.82%. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 70.72%.

About 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 Wealth Management, and Global Banking and Markets segments.