Hexagon Capital Partners LLC Grows Position in The Bank of Nova Scotia (NYSE:BNS)

Hexagon Capital Partners LLC grew its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 20.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,812 shares of the bank’s stock after buying an additional 826 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Bank of Nova Scotia were worth $249,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bruce G. Allen Investments LLC lifted its position in shares of Bank of Nova Scotia by 70.6% during the first quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock worth $30,000 after purchasing an additional 242 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Bank of Nova Scotia by 71.6% during the fourth quarter. Fifth Third Bancorp now owns 858 shares of the bank’s stock valued at $42,000 after purchasing an additional 358 shares during the last quarter. Galibier Capital Management Ltd. purchased a new stake in shares of Bank of Nova Scotia in the 1st quarter valued at approximately $76,000. Addison Advisors LLC lifted its stake in Bank of Nova Scotia by 88.6% in the 4th quarter. Addison Advisors LLC now owns 2,948 shares of the bank’s stock worth $144,000 after acquiring an additional 1,385 shares in the last quarter. Finally, Five Oceans Advisors acquired a new position in Bank of Nova Scotia in the 4th quarter valued at approximately $200,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Wall Street Analyst Weigh In

BNS has been the topic of several analyst reports. UBS Group initiated coverage on shares of Bank of Nova Scotia in a research note on Tuesday. They set a “neutral” rating on the stock. StockNews.com cut Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. Finally, Barclays assumed coverage on Bank of Nova Scotia in a research report on Wednesday, March 20th. They set an “underweight” rating and a $70.00 price target on the stock. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $68.00.

Bank of Nova Scotia Trading Down 0.6 %

Shares of NYSE BNS opened at $45.46 on Tuesday. The company’s 50 day simple moving average is $46.96 and its 200 day simple moving average is $47.67. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.03 and a quick ratio of 1.03. The Bank of Nova Scotia has a fifty-two week low of $39.79 and a fifty-two week high of $51.98. The firm has a market capitalization of $55.90 billion, a P/E ratio of 10.24, a P/E/G ratio of 1.69 and a beta of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Tuesday, May 28th. The bank reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.02. The business had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.10 billion. Bank of Nova Scotia had a return on equity of 11.40% and a net margin of 10.40%. On average, analysts predict that The Bank of Nova Scotia will post 4.82 EPS for the current year.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Wednesday, July 3rd will be paid a $0.769 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $3.08 dividend on an annualized basis and a dividend yield of 6.77%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 70.72%.

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.