Rathbones Group PLC Purchases 14,379 Shares of The Bank of Nova Scotia (NYSE:BNS)

Rathbones Group PLC boosted its position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 11.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 136,337 shares of the bank's stock after buying an additional 14,379 shares during the quarter. Rathbones Group PLC's holdings in Bank of Nova Scotia were worth $6,235,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of BNS. Mather Group LLC. increased its position in shares of Bank of Nova Scotia by 1,388.9% during the 2nd quarter. Mather Group LLC. now owns 536 shares of the bank's stock worth $25,000 after purchasing an additional 500 shares during the last quarter. Blue Trust Inc. increased its position in shares of Bank of Nova Scotia by 3,127.8% during the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank's stock worth $27,000 after purchasing an additional 563 shares during the last quarter. Bruce G. Allen Investments LLC increased its position in shares of Bank of Nova Scotia by 70.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank's stock worth $30,000 after purchasing an additional 242 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Bank of Nova Scotia during the 1st quarter worth approximately $53,000. Finally, Galibier Capital Management Ltd. acquired a new position in shares of Bank of Nova Scotia during the 1st quarter worth approximately $76,000. Institutional investors and hedge funds own 49.13% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. UBS Group assumed coverage on Bank of Nova Scotia in a research note on Tuesday, July 2nd. They set a "neutral" rating for the company. StockNews.com downgraded Bank of Nova Scotia from a "hold" rating to a "sell" rating in a research note on Wednesday, May 29th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $69.00.

Bank of Nova Scotia Stock Performance

Shares of NYSE BNS traded up $0.61 during midday trading on Monday, hitting $52.65. 967,527 shares of the company's stock were exchanged, compared to its average volume of 1,821,597. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The Bank of Nova Scotia has a 12 month low of $39.79 and a 12 month high of $52.72. The company's 50 day moving average price is $47.78 and its 200 day moving average price is $47.84. The firm has a market capitalization of $64.73 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 1.64 and a beta of 1.04.

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

Bank of Nova Scotia Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd will be paid a $0.768 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $3.07 annualized dividend and a yield of 5.84%. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 70.72%.

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.