The Bank of Nova Scotia (NYSE:BNS) Short Interest Down 9.9% in October

The Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS saw a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 31,510,000 shares, a decrease of 9.9% from the September 30th total of 34,990,000 shares. Currently, 2.6% of the company's shares are sold short. Based on an average trading volume of 1,620,000 shares, the days-to-cover ratio is currently 19.5 days.

Bank of Nova Scotia Stock Up 0.1 %

NYSE BNS traded up $0.03 on Wednesday, reaching $52.25. The company had a trading volume of 2,768,631 shares, compared to its average volume of 1,822,708. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 1.02. Bank of Nova Scotia has a 1 year low of $40.21 and a 1 year high of $55.12. The firm has a 50-day moving average of $51.96 and a 200-day moving average of $48.51. The firm has a market capitalization of $64.66 billion, a PE ratio of 12.49, a P/E/G ratio of 1.64 and a beta of 1.05.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.01. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The business had revenue of $8.36 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same period in the prior year, the firm earned $1.30 earnings per share. The business's quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts anticipate that Bank of Nova Scotia will post 4.8 EPS for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd were issued a $0.768 dividend. This represents a $3.07 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date was Wednesday, October 2nd. Bank of Nova Scotia's dividend payout ratio is currently 74.88%.

Institutional Investors Weigh In On Bank of Nova Scotia

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pathway Financial Advisers LLC raised its stake in shares of Bank of Nova Scotia by 5,380.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank's stock valued at $216,447,000 after purchasing an additional 3,899,760 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Bank of Nova Scotia during the 2nd quarter worth approximately $120,463,000. 1832 Asset Management L.P. grew its position in shares of Bank of Nova Scotia by 16.1% in the 1st quarter. 1832 Asset Management L.P. now owns 17,015,877 shares of the bank's stock worth $881,082,000 after acquiring an additional 2,361,136 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Bank of Nova Scotia by 17.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,563,337 shares of the bank's stock valued at $753,658,000 after acquiring an additional 2,178,633 shares during the last quarter. Finally, Nicola Wealth Management LTD. bought a new stake in shares of Bank of Nova Scotia in the 1st quarter valued at approximately $77,670,000. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on BNS shares. UBS Group assumed coverage on shares of Bank of Nova Scotia in a research report on Tuesday, July 2nd. They set a "neutral" rating on the stock. Cibc World Mkts raised shares of Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Bank of Nova Scotia presently has a consensus rating of "Hold" and an average target price of $69.00.

About Bank of Nova Scotia

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.