Forsta AP Fonden Has $15.03 Million Position in The Bank of Nova Scotia (NYSE:BNS)

Forsta AP Fonden lessened its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 12.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 328,600 shares of the bank’s stock after selling 48,200 shares during the period. Forsta AP Fonden’s holdings in Bank of Nova Scotia were worth $15,028,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BNS. Mather Group LLC. boosted its holdings in shares of Bank of Nova Scotia by 1,388.9% during the 2nd quarter. Mather Group LLC. now owns 536 shares of the bank’s stock worth $25,000 after buying an additional 500 shares during the period. Blue Trust Inc. grew its stake in Bank of Nova Scotia by 3,127.8% in the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock valued at $27,000 after buying an additional 563 shares during the last quarter. Bruce G. Allen Investments LLC grew its stake in Bank of Nova Scotia by 70.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock valued at $30,000 after buying an additional 242 shares during the last quarter. Global Retirement Partners LLC grew its stake in Bank of Nova Scotia by 144.6% in the 1st quarter. Global Retirement Partners LLC now owns 959 shares of the bank’s stock valued at $50,000 after buying an additional 567 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Bank of Nova Scotia in the 1st quarter valued at $53,000. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Down 0.1 %

Shares of BNS opened at $51.72 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.02. The company has a 50-day simple moving average of $47.49 and a 200-day simple moving average of $47.78. The Bank of Nova Scotia has a 52 week low of $39.79 and a 52 week high of $51.98. The firm has a market capitalization of $63.59 billion, a P/E ratio of 11.65, a P/E/G ratio of 1.60 and a beta of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 EPS for the quarter, beating the consensus estimate of $1.62 by $0.01. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The firm had revenue of $8.36 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter in the prior year, the firm posted $1.30 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts expect that The Bank of Nova Scotia will post 4.8 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 Tuesday, October 29th. Investors of record on Wednesday, October 2nd will be given a $0.768 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $3.07 annualized dividend and a yield of 5.94%. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 69.14%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group initiated coverage on Bank of Nova Scotia in a research note on Tuesday, July 2nd. They set a “neutral” rating for the company. StockNews.com downgraded shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Wednesday, May 29th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $69.00.

Bank of Nova Scotia Company 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.