Manitou Investment Management Ltd. lifted its position in shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 37.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,828 shares of the bank’s stock after purchasing an additional 1,870 shares during the period. Manitou Investment Management Ltd.’s holdings in Bank of Nova Scotia were worth $406,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Toronto Dominion Bank increased its position in Bank of Nova Scotia by 37.5% in the 2nd quarter. Toronto Dominion Bank now owns 20,945,499 shares of the bank’s stock valued at $1,199,742,000 after acquiring an additional 5,709,563 shares during the period. Bank of Montreal Can increased its position in Bank of Nova Scotia by 8.0% in the 3rd quarter. Bank of Montreal Can now owns 50,478,972 shares of the bank’s stock valued at $3,010,061,000 after acquiring an additional 3,741,346 shares during the period. Fiera Capital Corp increased its position in Bank of Nova Scotia by 51.3% in the 2nd quarter. Fiera Capital Corp now owns 6,500,295 shares of the bank’s stock valued at $368,111,000 after acquiring an additional 2,204,950 shares during the period. Addenda Capital Inc. increased its position in Bank of Nova Scotia by 96.5% in the 2nd quarter. Addenda Capital Inc. now owns 2,867,998 shares of the bank’s stock valued at $170,420,000 after acquiring an additional 1,408,794 shares during the period. Finally, OMERS ADMINISTRATION Corp increased its position in Bank of Nova Scotia by 20.1% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 6,920,196 shares of the bank’s stock valued at $391,607,000 after acquiring an additional 1,159,645 shares during the period. Institutional investors and hedge funds own 46.53% of the company’s stock.
Several brokerages recently issued reports on BNS. Canaccord Genuity cut Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research report on Wednesday, August 29th. Zacks Investment Research cut Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $83.00.
Shares of BNS stock opened at $54.01 on Friday. The stock has a market capitalization of $65.54 billion, a P/E ratio of 10.31, a P/E/G ratio of 1.57 and a beta of 1.27. Bank of Nova Scotia has a 52-week low of $52.63 and a 52-week high of $66.78. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.07 and a current ratio of 1.07.
Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, August 28th. The bank reported $1.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.39. The firm had revenue of $7.18 billion for the quarter, compared to analysts’ expectations of $7.34 billion. Bank of Nova Scotia had a return on equity of 14.62% and a net margin of 21.55%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.66 EPS. As a group, equities research analysts forecast that Bank of Nova Scotia will post 5.42 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 29th. Shareholders of record on Tuesday, October 2nd were issued a $0.6539 dividend. This represents a $2.62 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend was Monday, October 1st. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.64. Bank of Nova Scotia’s payout ratio is currently 50.19%.
Bank of Nova Scotia Company Profile
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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