PNC Financial Services Group Inc. decreased its holdings in Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 57.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,626 shares of the bank’s stock after selling 20,952 shares during the period. PNC Financial Services Group Inc.’s holdings in Bank of Nova Scotia were worth $779,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the business. Comerica Bank lifted its position in shares of Bank of Nova Scotia by 8.1% during the 3rd quarter. Comerica Bank now owns 70,980 shares of the bank’s stock valued at $3,836,000 after buying an additional 5,345 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Bank of Nova Scotia by 138.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,992,717 shares of the bank’s stock valued at $118,827,000 after buying an additional 1,156,775 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its position in shares of Bank of Nova Scotia by 18.1% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 98,681 shares of the bank’s stock valued at $5,878,000 after buying an additional 15,129 shares during the last quarter. Commonwealth Bank of Australia lifted its position in shares of Bank of Nova Scotia by 4.9% during the 3rd quarter. Commonwealth Bank of Australia now owns 178,738 shares of the bank’s stock valued at $10,655,000 after buying an additional 8,430 shares during the last quarter. Finally, Bollard Group LLC lifted its position in shares of Bank of Nova Scotia by 15.1% during the 3rd quarter. Bollard Group LLC now owns 60,307 shares of the bank’s stock valued at $3,596,000 after buying an additional 7,898 shares during the last quarter. Institutional investors and hedge funds own 47.89% of the company’s stock.

A number of research analysts have recently commented on BNS shares. TD Securities reaffirmed a “buy” rating on shares of Bank of Nova Scotia in a research report on Monday, November 19th. Barclays reaffirmed a “buy” rating on shares of Bank of Nova Scotia in a research report on Tuesday, November 27th. CIBC cut Bank of Nova Scotia from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, February 27th. Royal Bank of Canada reissued a “hold” rating and set a $88.00 price objective on shares of Bank of Nova Scotia in a report on Thursday, November 29th. Finally, Desjardins reissued a “buy” rating on shares of Bank of Nova Scotia in a report on Tuesday, December 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Bank of Nova Scotia has an average rating of “Hold” and an average target price of $79.50.

Shares of BNS opened at $54.78 on Friday. The stock has a market cap of $66.97 billion, a P/E ratio of 10.07, a P/E/G ratio of 1.63 and a beta of 1.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.06 and a current ratio of 1.06. Bank of Nova Scotia has a 52-week low of $48.34 and a 52-week high of $63.53.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, February 26th. The bank reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.34. The business had revenue of $7.60 billion for the quarter, compared to analysts’ expectations of $7.78 billion. Bank of Nova Scotia had a return on equity of 13.93% and a net margin of 19.86%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.74 EPS. As a group, research analysts expect that Bank of Nova Scotia will post 5.52 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Tuesday, April 2nd will be issued a dividend of $0.663 per share. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, April 1st. This represents a $2.65 dividend on an annualized basis and a yield of 4.84%. Bank of Nova Scotia’s dividend payout ratio is 45.77%.

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Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

Read More: How are institutional investors different from individual investors?

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

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