John G Ullman & Associates Inc. grew its position in Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 20.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 156,850 shares of the bank’s stock after purchasing an additional 26,550 shares during the period. Bank of Nova Scotia makes up 1.5% of John G Ullman & Associates Inc.’s holdings, making the stock its 21st biggest position. John G Ullman & Associates Inc.’s holdings in Bank of Nova Scotia were worth $8,525,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Capital Investment Advisors LLC purchased a new position in shares of Bank of Nova Scotia in the second quarter valued at $206,000. Cardinal Capital Management Inc. boosted its stake in shares of Bank of Nova Scotia by 0.8% during the second quarter. Cardinal Capital Management Inc. now owns 982,383 shares of the bank’s stock valued at $52,771,000 after acquiring an additional 7,600 shares during the last quarter. Commonwealth Bank of Australia boosted its stake in shares of Bank of Nova Scotia by 29.5% during the first quarter. Commonwealth Bank of Australia now owns 257,934 shares of the bank’s stock valued at $13,742,000 after acquiring an additional 58,784 shares during the last quarter. Callahan Advisors LLC boosted its stake in shares of Bank of Nova Scotia by 30.6% during the first quarter. Callahan Advisors LLC now owns 32,912 shares of the bank’s stock valued at $1,754,000 after acquiring an additional 7,710 shares during the last quarter. Finally, AlphaCrest Capital Management LLC boosted its stake in shares of Bank of Nova Scotia by 647.5% during the first quarter. AlphaCrest Capital Management LLC now owns 51,577 shares of the bank’s stock valued at $2,748,000 after acquiring an additional 44,677 shares during the last quarter. Institutional investors and hedge funds own 46.26% of the company’s stock.
Shares of BNS traded up $0.41 during trading hours on Friday, reaching $51.02. 782,400 shares of the company traded hands, compared to its average volume of 752,381. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $62.27 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 1.91 and a beta of 1.16. Bank of Nova Scotia has a fifty-two week low of $48.34 and a fifty-two week high of $60.60. The stock has a fifty day simple moving average of $53.16 and a 200 day simple moving average of $53.89.
Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Tuesday, May 28th. The bank reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.04). The company had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.60 billion. Bank of Nova Scotia had a net margin of 19.20% and a return on equity of 13.55%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.70 EPS. Research analysts predict that Bank of Nova Scotia will post 5.29 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Tuesday, July 2nd were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date was Friday, June 28th. Bank of Nova Scotia’s payout ratio is currently 48.90%.
A number of analysts recently commented on BNS shares. Barclays reaffirmed an “average” rating and set a $78.00 price objective on shares of Bank of Nova Scotia in a research note on Thursday, May 30th. ValuEngine lowered Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research lowered Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $76.50.
About Bank of Nova Scotia
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: What is a front-end load?
Want to see what other hedge funds are holding BNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of Nova Scotia (NYSE:BNS) (TSE:BNS).
Receive News & Ratings for Bank of Nova Scotia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Nova Scotia and related companies with MarketBeat.com's FREE daily email newsletter.