BSW Wealth Partners Purchases New Shares in The Bank of Nova Scotia (NYSE:BNS)

BSW Wealth Partners purchased a new stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 3,252 shares of the bank’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allred Capital Management LLC bought a new position in The Bank of Nova Scotia during the 1st quarter valued at $25,000. Asset Dedication LLC bought a new position in shares of The Bank of Nova Scotia in the 1st quarter worth about $41,000. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of The Bank of Nova Scotia in the 1st quarter worth about $44,000. Fieldpoint Private Securities LLC acquired a new stake in shares of The Bank of Nova Scotia in the 1st quarter worth about $49,000. Finally, Bedel Financial Consulting Inc. acquired a new stake in shares of The Bank of Nova Scotia in the 1st quarter worth about $50,000. 46.02% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have commented on the stock. Credit Suisse Group raised shares of The Bank of Nova Scotia from an “underperform” rating to a “neutral” rating and raised their target price for the company from C$77.00 to C$84.00 in a research note on Wednesday, June 2nd. Barclays upgraded shares of The Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $82.00 to $87.00 in a report on Tuesday, June 8th. Canaccord Genuity raised their target price on shares of The Bank of Nova Scotia from C$82.00 to C$83.00 and gave the stock a “hold” rating in a report on Wednesday, June 2nd. Desjardins raised their target price on shares of The Bank of Nova Scotia from C$85.00 to C$89.00 and gave the stock a “buy” rating in a report on Thursday, June 3rd. Finally, BMO Capital Markets raised their price target on shares of The Bank of Nova Scotia from C$88.00 to C$93.00 and gave the stock an “outperform” rating in a report on Wednesday, June 2nd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The Bank of Nova Scotia presently has a consensus rating of “Buy” and a consensus price target of $82.37.

Shares of NYSE:BNS opened at $62.11 on Thursday. The firm has a fifty day moving average price of $65.20. The firm has a market cap of $75.45 billion, a P/E ratio of 13.08, a PEG ratio of 0.69 and a beta of 0.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.07 and a quick ratio of 1.07. The Bank of Nova Scotia has a 52 week low of $40.15 and a 52 week high of $68.02.

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Monday, May 31st. The bank reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.51. The Bank of Nova Scotia had a return on equity of 12.15% and a net margin of 19.62%. The company had revenue of $7.74 billion during the quarter, compared to analysts’ expectations of $7.86 billion. During the same period in the prior year, the business posted $1.04 EPS. The Bank of Nova Scotia’s revenue was down 2.8% on a year-over-year basis. On average, equities research analysts predict that The Bank of Nova Scotia will post 6.28 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 28th. Stockholders of record on Tuesday, July 6th will be issued a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date is Friday, July 2nd. This is an increase from The Bank of Nova Scotia’s previous quarterly dividend of $0.71. The Bank of Nova Scotia’s dividend payout ratio is 34.59%.

About The Bank of Nova Scotia

Bank of Nova Scotia engages in the provision of financial products and services, including personal, commercial, corporate, and investment banking. It operates through the following segments: Canadian Banking, International Banking, Global Banking and Markets, and Other. The Other segment includes group treasury, smaller operating segments and business line elimination items.

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Institutional Ownership by Quarter for The Bank of Nova Scotia (NYSE:BNS)

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