Canada Pension Plan Investment Board Sells 539,086 Shares of Bank of Nova Scotia (BNS)

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Canada Pension Plan Investment Board trimmed its holdings in Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 45.5% during the 2nd quarter, Holdings Channel reports. The firm owned 644,605 shares of the bank’s stock after selling 539,086 shares during the period. Canada Pension Plan Investment Board’s holdings in Bank of Nova Scotia were worth $36,478,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of BNS. BNP Paribas Arbitrage SA purchased a new stake in Bank of Nova Scotia in the second quarter valued at $200,000. Nwam LLC boosted its stake in shares of Bank of Nova Scotia by 38.9% during the 2nd quarter. Nwam LLC now owns 5,235 shares of the bank’s stock worth $300,000 after acquiring an additional 1,465 shares in the last quarter. Coastline Trust Co boosted its stake in shares of Bank of Nova Scotia by 24.8% during the 2nd quarter. Coastline Trust Co now owns 6,800 shares of the bank’s stock worth $390,000 after acquiring an additional 1,350 shares in the last quarter. Alps Advisors Inc. purchased a new stake in shares of Bank of Nova Scotia during the 2nd quarter worth about $470,000. Finally, Pennsylvania Trust Co boosted its stake in shares of Bank of Nova Scotia by 48.7% during the 2nd quarter. Pennsylvania Trust Co now owns 9,012 shares of the bank’s stock worth $515,000 after acquiring an additional 2,952 shares in the last quarter. 45.76% of the stock is currently owned by institutional investors.

BNS stock opened at $59.29 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.05 and a current ratio of 1.05. Bank of Nova Scotia has a 52-week low of $55.85 and a 52-week high of $66.78. The stock has a market cap of $71.65 billion, a PE ratio of 11.31, a PEG ratio of 1.51 and a beta of 1.28.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Tuesday, May 29th. The bank reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.04. Bank of Nova Scotia had a net margin of 22.29% and a return on equity of 14.87%. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.37 billion. sell-side analysts forecast that Bank of Nova Scotia will post 5.42 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 27th. Investors of record on Tuesday, July 3rd were given a dividend of $0.6366 per share. The ex-dividend date was Monday, July 2nd. This represents a $2.55 annualized dividend and a dividend yield of 4.29%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 47.71%.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research note on Thursday. Desjardins reissued a “buy” rating on shares of Bank of Nova Scotia in a research note on Friday, June 8th. ValuEngine lowered shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Monday, June 11th. Royal Bank of Canada lowered shares of Bank of Nova Scotia from an “outperform” rating to a “sector perform” rating in a research note on Monday, June 11th. Finally, National Bank Financial lowered shares of Bank of Nova Scotia from an “outperform” rating to a “sector perform” rating in a research note on Friday, June 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $84.33.

About Bank of Nova Scotia

The Bank of Nova Scotia provides various financial services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. It 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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