Retirement Planning Group LLC Acquires Shares of 13,207 The Bank of Nova Scotia (NYSE:BNS)

Retirement Planning Group LLC acquired a new position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,207 shares of the bank's stock, valued at approximately $604,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Bank of Nova Scotia by 1.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,432 shares of the bank's stock valued at $799,000 after buying an additional 219 shares during the period. Power Corp of Canada boosted its stake in Bank of Nova Scotia by 1.9% during the fourth quarter. Power Corp of Canada now owns 12,037 shares of the bank's stock valued at $587,000 after buying an additional 226 shares during the period. Bruce G. Allen Investments LLC grew its position in Bank of Nova Scotia by 70.6% during the first quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank's stock worth $30,000 after buying an additional 242 shares in the last quarter. Metis Global Partners LLC grew its holdings in shares of Bank of Nova Scotia by 0.4% during the fourth quarter. Metis Global Partners LLC now owns 59,065 shares of the bank's stock worth $2,875,000 after purchasing an additional 258 shares in the last quarter. Finally, Pacifica Partners Inc. increased its position in shares of Bank of Nova Scotia by 1.5% in the second quarter. Pacifica Partners Inc. now owns 19,493 shares of the bank's stock worth $889,000 after purchasing an additional 288 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. UBS Group started coverage on shares of Bank of Nova Scotia in a research report on Tuesday, July 2nd. They set a "neutral" rating on the stock. StockNews.com cut Bank of Nova Scotia from a "hold" rating to a "sell" rating in a report on Wednesday, May 29th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $68.00.

Bank of Nova Scotia Trading Down 3.5 %

Shares of NYSE BNS traded down $1.63 during midday trading on Monday, reaching $44.74. The company had a trading volume of 3,302,906 shares, compared to its average volume of 1,892,023. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.57. The Bank of Nova Scotia has a one year low of $39.79 and a one year high of $51.98. The firm's fifty day moving average price is $46.22 and its 200-day moving average price is $47.46. The stock has a market cap of $55.01 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 1.70 and a beta of 1.04.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its quarterly earnings results on Tuesday, May 28th. The bank reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.02. The business had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.10 billion. Bank of Nova Scotia had a net margin of 10.40% and a return on equity of 11.40%. On average, equities research analysts anticipate that The Bank of Nova Scotia will post 4.82 earnings per share for the current year.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Wednesday, July 3rd were issued a dividend of $0.769 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $3.08 dividend on an annualized basis and a dividend yield of 6.88%. Bank of Nova Scotia's dividend payout ratio is presently 69.59%.

Bank of Nova Scotia 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.