Janiczek Wealth Management LLC Trims Position in The Bank of Nova Scotia (NYSE:BNS)

by · The Cerbat Gem

Janiczek Wealth Management LLC decreased its position in shares of The Bank of Nova Scotia (NYSE:BNS – Free Report) (TSE:BNS) by 6.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,827 shares of the bank’s stock after selling 248 shares during the period. Janiczek Wealth Management LLC’s holdings in Bank of Nova Scotia were worth $174,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Harbour Investments Inc. lifted its stake in shares of Bank of Nova Scotia by 10.2% during the fourth quarter. Harbour Investments Inc. now owns 2,115 shares of the bank’s stock valued at $104,000 after buying an additional 195 shares during the period. Cetera Investment Advisers raised its stake in Bank of Nova Scotia by 3.7% during the first quarter. Cetera Investment Advisers now owns 5,548 shares of the bank’s stock worth $398,000 after purchasing an additional 196 shares during the period. First Manhattan Co. raised its stake in Bank of Nova Scotia by 5.1% during the fourth quarter. First Manhattan Co. now owns 4,204 shares of the bank’s stock worth $206,000 after purchasing an additional 204 shares during the period. Cetera Advisor Networks LLC raised its stake in Bank of Nova Scotia by 4.7% during the second quarter. Cetera Advisor Networks LLC now owns 4,772 shares of the bank’s stock worth $239,000 after purchasing an additional 214 shares during the period. Finally, Guggenheim Capital LLC raised its stake in Bank of Nova Scotia by 1.5% during the first quarter. Guggenheim Capital LLC now owns 16,443 shares of the bank’s stock worth $1,179,000 after purchasing an additional 250 shares during the period. Hedge funds and other institutional investors own 43.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BNS shares. StockNews.com raised shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th. Scotiabank cut their price target on shares of Bank of Nova Scotia from $68.00 to $66.00 and set a “hold” rating on the stock in a research note on Wednesday, August 30th. Finally, BMO Capital Markets cut their price target on shares of Bank of Nova Scotia from $73.00 to $68.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 29th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $69.00.

Check Out Our Latest Stock Analysis on BNS

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $47.37 on Friday. The company’s fifty day simple moving average is $43.60 and its 200-day simple moving average is $46.39. The Bank of Nova Scotia has a 52 week low of $39.79 and a 52 week high of $55.91. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The company has a market cap of $57.50 billion, a PE ratio of 11.04, a P/E/G ratio of 1.46 and a beta of 1.03.

Bank of Nova Scotia (NYSE:BNS – Get Free Report) (TSE:BNS) last issued its earnings results on Tuesday, November 28th. The bank reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.28). Bank of Nova Scotia had a net margin of 10.47% and a return on equity of 11.87%. The business had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $5.98 billion. During the same period in the prior year, the business posted $1.55 EPS. The business’s revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts anticipate that The Bank of Nova Scotia will post 5 EPS for the current year.

Bank of Nova Scotia Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Wednesday, January 3rd will be issued a dividend of $0.7773 per share. This represents a $3.11 dividend on an annualized basis and a yield of 6.56%. The ex-dividend date is Tuesday, January 2nd. Bank of Nova Scotia’s payout ratio is 72.73%.

Bank of Nova Scotia Profile

(Free Report)

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.

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