Ipswich Investment Management Co. Inc. Acquires 900 Shares of Bank of Nova Scotia (NYSE:BNS)

Ipswich Investment Management Co. Inc. grew its position in Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 5.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,662 shares of the bank’s stock after purchasing an additional 900 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Bank of Nova Scotia were worth $770,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Cardinal Capital Management Inc. raised its position in shares of Bank of Nova Scotia by 7.0% in the second quarter. Cardinal Capital Management Inc. now owns 1,825,706 shares of the bank’s stock valued at $75,315,000 after purchasing an additional 118,939 shares during the period. Nexus Investment Management ULC raised its position in shares of Bank of Nova Scotia by 1.7% in the second quarter. Nexus Investment Management ULC now owns 551,365 shares of the bank’s stock valued at $22,745,000 after purchasing an additional 9,150 shares during the period. Pathstone Family Office LLC raised its position in shares of Bank of Nova Scotia by 12.9% in the first quarter. Pathstone Family Office LLC now owns 3,034 shares of the bank’s stock valued at $123,000 after purchasing an additional 347 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in Bank of Nova Scotia by 27.4% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 121,231 shares of the bank’s stock worth $4,922,000 after acquiring an additional 26,061 shares during the period. Finally, Guggenheim Capital LLC increased its position in Bank of Nova Scotia by 309.6% during the first quarter. Guggenheim Capital LLC now owns 21,256 shares of the bank’s stock worth $860,000 after acquiring an additional 16,067 shares during the period. 47.46% of the stock is currently owned by institutional investors.

A number of equities analysts recently issued reports on the stock. Bank of America boosted their target price on shares of Bank of Nova Scotia from $43.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. ValuEngine lowered shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Royal Bank of Canada lifted their price target on shares of Bank of Nova Scotia from $59.00 to $64.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 27th. Zacks Investment Research upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Friday, June 12th. Finally, Cfra decreased their price target on shares of Bank of Nova Scotia from $60.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $68.83.

Shares of NYSE:BNS traded down $0.16 on Thursday, hitting $40.36. The stock had a trading volume of 20,031 shares, compared to its average volume of 1,605,538. Bank of Nova Scotia has a twelve month low of $31.94 and a twelve month high of $58.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50 day moving average price is $41.32 and its 200-day moving average price is $45.98. The company has a market capitalization of $49.08 billion, a price-to-earnings ratio of 8.91, a price-to-earnings-growth ratio of 1.95 and a beta of 0.95.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, May 26th. The bank reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.33. Bank of Nova Scotia had a net margin of 16.36% and a return on equity of 12.56%. The company had revenue of $7.96 billion for the quarter, compared to the consensus estimate of $7.87 billion. During the same quarter in the previous year, the company earned $1.70 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that Bank of Nova Scotia will post 3.83 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Tuesday, July 7th will be given a dividend of $0.6555 per share. The ex-dividend date is Monday, July 6th. This represents a $2.62 annualized dividend and a yield of 6.50%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 49.53%.

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.

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

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