Glassman Wealth Services Sells 2,638 Shares of The Bank of Nova Scotia (NYSE:BNS)

Glassman Wealth Services decreased its position in shares of The Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) by 81.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 606 shares of the bank’s stock after selling 2,638 shares during the period. Glassman Wealth Services’ holdings in Bank of Nova Scotia were worth $43,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. West Bancorporation Inc. bought a new position in Bank of Nova Scotia in the fourth quarter valued at approximately $33,000. Retirement Planning Co of New England Inc. acquired a new position in Bank of Nova Scotia in the 4th quarter valued at about $42,000. Lindbrook Capital LLC boosted its holdings in Bank of Nova Scotia by 23.1% in the 4th quarter. Lindbrook Capital LLC now owns 969 shares of the bank’s stock valued at $69,000 after purchasing an additional 182 shares during the period. UMB Bank N A MO bought a new stake in Bank of Nova Scotia in the 4th quarter valued at about $84,000. Finally, Desjardins Global Asset Management Inc. bought a new stake in shares of Bank of Nova Scotia during the 4th quarter worth approximately $113,000. 45.01% of the stock is owned by institutional investors.

Several equities research analysts have recently weighed in on BNS shares. CIBC cut shares of Bank of Nova Scotia from a “sector outperform” rating to a “neutral” rating in a research report on Monday, April 11th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a research note on Friday, May 20th. Barclays raised their price target on shares of Bank of Nova Scotia from C$97.00 to C$99.00 in a research report on Wednesday, March 2nd. National Bank Financial raised their price target on shares of Bank of Nova Scotia from C$90.00 to C$91.00 in a research report on Wednesday, March 2nd. Finally, BMO Capital Markets raised their price objective on shares of Bank of Nova Scotia from C$93.00 to C$95.00 in a report on Wednesday, March 2nd. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bank of Nova Scotia has a consensus rating of “Hold” and a consensus price target of $93.66.

Bank of Nova Scotia stock traded up $1.70 during mid-day trading on Wednesday, hitting $65.29. 65,501 shares of the company traded hands, compared to its average volume of 1,810,964. The Bank of Nova Scotia has a one year low of $59.05 and a one year high of $74.86. The stock has a market cap of $78.54 billion, a price-to-earnings ratio of 10.01, a price-to-earnings-growth ratio of 1.59 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a fifty day moving average price of $67.64 and a 200-day moving average price of $69.23.

Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) last announced its earnings results on Tuesday, March 1st. The bank reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.52. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.87 billion. Bank of Nova Scotia had a net margin of 25.54% and a return on equity of 15.22%. Bank of Nova Scotia’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $1.46 earnings per share. Sell-side analysts predict that The Bank of Nova Scotia will post 6.53 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 27th. Stockholders of record on Tuesday, April 5th were issued a $0.7884 dividend. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.83%. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.78. The ex-dividend date was Monday, April 4th. Bank of Nova Scotia’s payout ratio is presently 50.39%.

About Bank of Nova Scotia (Get Rating)

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 in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.

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

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