Bank of Nova Scotia (NYSE:BNS) Issues Quarterly Earnings Results

Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) posted its quarterly earnings results on Wednesday. The bank reported $2.18 EPS for the quarter, topping the consensus estimate of $1.53 by $0.65, Briefing.com reports. Bank of Nova Scotia had a net margin of 25.54% and a return on equity of 15.22%. The company had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $7.87 billion. During the same quarter in the previous year, the business posted $1.50 EPS. The firm’s revenue was up 2.7% on a year-over-year basis.

Shares of Bank of Nova Scotia stock opened at $67.06 on Friday. The company has a market cap of $80.32 billion, a P/E ratio of 10.56, a PEG 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. Bank of Nova Scotia has a one year low of $59.05 and a one year high of $74.86. The firm has a fifty day moving average of $67.19 and a two-hundred day moving average of $69.21.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Tuesday, July 5th will be given a dividend of $0.801 per share. The ex-dividend date is Friday, July 1st. This represents a $3.20 dividend on an annualized basis and a yield of 4.78%. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.79. Bank of Nova Scotia’s dividend payout ratio is presently 50.39%.

A number of institutional investors have recently made changes to their positions in BNS. Ontario Teachers Pension Plan Board increased its holdings in shares of Bank of Nova Scotia by 158.2% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 7,831 shares of the bank’s stock valued at $561,000 after purchasing an additional 4,798 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Bank of Nova Scotia by 3.6% in the 1st quarter. Evergreen Capital Management LLC now owns 7,669 shares of the bank’s stock valued at $550,000 after purchasing an additional 270 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Bank of Nova Scotia by 56.3% in the 1st quarter. Private Advisor Group LLC now owns 7,272 shares of the bank’s stock valued at $522,000 after purchasing an additional 2,619 shares in the last quarter. JustInvest LLC increased its holdings in shares of Bank of Nova Scotia by 77.7% in the 4th quarter. JustInvest LLC now owns 6,129 shares of the bank’s stock valued at $439,000 after purchasing an additional 2,679 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Bank of Nova Scotia by 3.7% in the 1st quarter. Cetera Investment Advisers now owns 5,548 shares of the bank’s stock valued at $398,000 after purchasing an additional 196 shares in the last quarter. Institutional investors own 45.01% of the company’s stock.

Several research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Bank of Nova Scotia in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a report on Thursday, February 24th. TD Securities upped their target price on shares of Bank of Nova Scotia from C$88.00 to C$90.00 in a report on Thursday. Bank of America cut shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a report on Tuesday, May 17th. Finally, Credit Suisse Group upped their price target on shares of Bank of Nova Scotia from C$88.00 to C$91.00 in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $92.22.

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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