Zurcher Kantonalbank Zurich Cantonalbank Buys 17,897 Shares of The Bank of Nova Scotia (NYSE:BNS)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 4.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 433,078 shares of the bank’s stock after purchasing an additional 17,897 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bank of Nova Scotia were worth $21,184,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in Bank of Nova Scotia by 135.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 919 shares of the bank’s stock valued at $42,000 after acquiring an additional 529 shares during the period. Quantbot Technologies LP bought a new position in Bank of Nova Scotia during the 3rd quarter valued at about $42,000. Fifth Third Bancorp lifted its stake in Bank of Nova Scotia by 71.6% during the 4th quarter. Fifth Third Bancorp now owns 858 shares of the bank’s stock valued at $42,000 after acquiring an additional 358 shares during the period. NBC Securities Inc. bought a new position in Bank of Nova Scotia during the 3rd quarter valued at about $67,000. Finally, Belpointe Asset Management LLC lifted its stake in Bank of Nova Scotia by 1,225.9% during the 1st quarter. Belpointe Asset Management LLC now owns 1,843 shares of the bank’s stock valued at $93,000 after acquiring an additional 1,704 shares during the period. Institutional investors own 49.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BNS shares. Barclays started coverage on shares of Bank of Nova Scotia in a research note on Wednesday, March 20th. They issued an “underweight” rating and a $70.00 price objective on the stock. Jefferies Financial Group started coverage on shares of Bank of Nova Scotia in a research note on Thursday, February 22nd. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat, Bank of Nova Scotia has an average rating of “Hold” and an average price target of $68.00.

Bank of Nova Scotia Price Performance

Shares of NYSE:BNS opened at $46.62 on Thursday. The firm’s 50 day moving average price is $48.96 and its 200-day moving average price is $46.30. The Bank of Nova Scotia has a twelve month low of $39.79 and a twelve month high of $51.98. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $56.98 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 1.54 and a beta of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, February 27th. The bank reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.06. The firm had revenue of $14.13 billion for the quarter, compared to analysts’ expectations of $6.01 billion. Bank of Nova Scotia had a net margin of 10.71% and a return on equity of 11.51%. During the same quarter in the prior year, the business earned $1.37 EPS. Equities research analysts expect that The Bank of Nova Scotia will post 4.9 EPS for the current year.

Bank of Nova Scotia Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Tuesday, April 2nd will be issued a $0.7843 dividend. This represents a $3.14 annualized dividend and a yield of 6.73%. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Monday, April 1st. Bank of Nova Scotia’s dividend payout ratio is currently 34.96%.

Bank of Nova Scotia Company Profile

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 through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.