Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) released its quarterly earnings data on Tuesday. The bank reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.44, Briefing.com reports. Bank of Nova Scotia had a net margin of 32.97% and a return on equity of 16.32%. The firm had revenue of $7.09 billion for the quarter, compared to analysts’ expectations of $7.01 billion. During the same quarter in the previous year, the company earned $1.57 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year.
Shares of Bank of Nova Scotia (BNS) opened at $62.53 on Wednesday. Bank of Nova Scotia has a 52 week low of $53.86 and a 52 week high of $66.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market cap of $74,796.10, a PE ratio of 12.58, a P/E/G ratio of 1.42 and a beta of 1.26.
Bank of Nova Scotia announced that its board has approved a stock repurchase program on Monday, February 12th that allows the company to buyback outstanding shares. This buyback authorization allows the bank to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
Large investors have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI boosted its stake in Bank of Nova Scotia by 320.4% during the fourth quarter. Arcadia Investment Management Corp MI now owns 1,955 shares of the bank’s stock worth $126,000 after acquiring an additional 1,490 shares in the last quarter. Elkfork Partners LLC bought a new position in shares of Bank of Nova Scotia in the fourth quarter worth approximately $168,000. Huntington National Bank lifted its stake in shares of Bank of Nova Scotia by 69.8% in the fourth quarter. Huntington National Bank now owns 2,649 shares of the bank’s stock worth $171,000 after buying an additional 1,089 shares in the last quarter. London Co. of Virginia bought a new position in shares of Bank of Nova Scotia in the fourth quarter worth approximately $200,000. Finally, Partnervest Advisory Services LLC bought a new position in shares of Bank of Nova Scotia in the fourth quarter worth approximately $201,000. 47.85% of the stock is currently owned by institutional investors and hedge funds.
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Bank of Nova Scotia Company Profile
The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.
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