40,685 Bank of Nova Scotia (The) $BNS Shares Sold by Euro Pacific Asset Management LLC

Euro Pacific Asset Management LLC lessened its stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 24.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 128,821 shares of the bank’s stock after selling 40,685 shares during the quarter. Bank of Nova Scotia accounts for 0.8% of Euro Pacific Asset Management LLC’s investment portfolio, making the stock its 28th biggest holding. Euro Pacific Asset Management LLC’s holdings in Bank of Nova Scotia were worth $11,981,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BNS. Maseco LLP bought a new position in Bank of Nova Scotia in the first quarter worth about $30,000. CoreCap Advisors LLC boosted its holdings in shares of Bank of Nova Scotia by 1,366.7% in the 2nd quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock valued at $38,000 after buying an additional 410 shares in the last quarter. Addison Advisors LLC bought a new stake in shares of Bank of Nova Scotia in the 2nd quarter valued at about $39,000. Global Retirement Partners LLC purchased a new position in shares of Bank of Nova Scotia in the 2nd quarter worth approximately $46,000. Finally, Jones Financial Companies Lllp purchased a new position in shares of Bank of Nova Scotia in the 2nd quarter worth approximately $61,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Weiss Ratings upgraded shares of Bank of Nova Scotia from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday. National Bank Financial upgraded shares of Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, August 26th. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, August 25th. Keefe, Bruyette & Woods started coverage on shares of Bank of Nova Scotia in a report on Friday, August 21st. They issued an “outperform” rating on the stock. Finally, TD raised Bank of Nova Scotia to a “buy” rating in a research report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.50.

Bank of Nova Scotia Stock Up 1.6%

Shares of BNS traded up $1.46 during mid-day trading on Tuesday, hitting $90.25. 2,173,737 shares of the company traded hands, compared to its average volume of 2,341,660. The company has a market capitalization of $109.82 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 0.99 and a beta of 1.14. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.98. The business has a 50 day moving average of $91.22 and a 200 day moving average of $84.26. Bank of Nova Scotia has a 1-year low of $62.98 and a 1-year high of $95.74.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, August 25th. The bank reported $1.64 EPS for the quarter, beating the consensus estimate of $1.53 by $0.11. The firm had revenue of $7.52 billion during the quarter, compared to analyst estimates of $7.11 billion. Bank of Nova Scotia had a net margin of 13.91% and a return on equity of 16.12%. Bank of Nova Scotia’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $1.84 EPS. Equities research analysts anticipate that Bank of Nova Scotia will post 6.19 EPS for the current year.

Bank of Nova Scotia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Tuesday, October 6th will be paid a C$1.14 dividend. The ex-dividend date is Tuesday, October 6th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.1%. Bank of Nova Scotia’s dividend payout ratio is presently 57.87%.

Bank of Nova Scotia Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian financial services company headquartered in Toronto, Ontario. Founded in 1832, it is one of Canada’s largest banks and provides a broad range of banking and financial services to individuals, businesses, institutions and governments.

Scotiabank’s principal activities include Canadian personal and commercial banking, wealth management, and global banking and markets. Its products and services include deposit accounts, residential mortgages, consumer and business loans, credit cards, investment and advisory services, foreign exchange, capital markets and corporate finance.

The bank serves customers across Canada and maintains international operations, particularly in Mexico, Peru, Chile and selected markets in the Caribbean and Central America.