Miles Capital Inc. Continues to Hold Position in Bank of Nova Scotia (The) (BNS)

Miles Capital Inc. continued to hold its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,654 shares of the bank’s stock at the end of the first quarter. Miles Capital Inc.’s holdings in Bank of Nova Scotia (The) were worth $273,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of BNS. Advisory Services Network LLC acquired a new stake in shares of Bank of Nova Scotia (The) during the first quarter valued at approximately $111,000. MUFG Americas Holdings Corp acquired a new stake in shares of Bank of Nova Scotia (The) during the fourth quarter valued at approximately $107,000. Janney Montgomery Scott LLC acquired a new stake in shares of Bank of Nova Scotia (The) during the first quarter valued at approximately $203,000. Seven Eight Capital LP acquired a new stake in shares of Bank of Nova Scotia (The) during the fourth quarter valued at approximately $195,000. Finally, Park National Corp OH acquired a new stake in shares of Bank of Nova Scotia (The) during the first quarter valued at approximately $205,000. 49.39% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Bank of Nova Scotia (The) (NYSE:BNS)

Bank of Nova Scotia (BNS) traded down 0.10% during midday trading on Tuesday, reaching $59.41. The company had a trading volume of 911,871 shares. The stock’s 50 day moving average price is $56.50 and its 200-day moving average price is $58.00. Bank of Nova Scotia has a one year low of $47.59 and a one year high of $62.89. The firm has a market capitalization of $71.40 billion, a P/E ratio of 12.58 and a beta of 1.26.

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, May 30th. The bank reported $1.23 EPS for the quarter, topping the consensus estimate of $1.15 by $0.08. The business had revenue of $6.58 billion for the quarter, compared to analyst estimates of $6.73 billion. Bank of Nova Scotia (The) had a net margin of 22.17% and a return on equity of 14.45%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 earnings per share. On average, equities research analysts anticipate that Bank of Nova Scotia will post $4.89 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 27th. Shareholders of record on Tuesday, July 4th will be given a $0.5635 dividend. This represents a $2.25 annualized dividend and a yield of 3.79%. The ex-dividend date is Thursday, June 29th. Bank of Nova Scotia (The)’s dividend payout ratio is 47.60%.

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Several brokerages recently issued reports on BNS. Zacks Investment Research upgraded Bank of Nova Scotia (The) from a “sell” rating to a “hold” rating in a report on Tuesday. Bank of America Corporation increased their price objective on Bank of Nova Scotia (The) from $81.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, May 31st. BidaskClub upgraded Bank of Nova Scotia (The) from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. National Bank Financial restated an “outperform overweight” rating on shares of Bank of Nova Scotia (The) in a report on Thursday, May 18th. Finally, Barclays PLC upgraded Bank of Nova Scotia (The) from an “equal weight” rating to an “overweight” rating in a report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. Bank of Nova Scotia (The) presently has an average rating of “Buy” and an average target price of $74.67.

About Bank of Nova Scotia (The)

The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

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