Neuburgh Advisers LLC lifted its position in shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 17.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,980 shares of the bank’s stock after purchasing an additional 2,346 shares during the quarter. Neuburgh Advisers LLC’s holdings in Bank of Nova Scotia were worth $825,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of BNS. Great West Life Assurance Co. Can acquired a new stake in shares of Bank of Nova Scotia in the second quarter valued at about $680,426,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of Bank of Nova Scotia in the first quarter worth approximately $217,341,000. JPMorgan Chase & Co. boosted its stake in shares of Bank of Nova Scotia by 43.7% in the second quarter. JPMorgan Chase & Co. now owns 3,874,872 shares of the bank’s stock worth $209,902,000 after acquiring an additional 1,177,982 shares during the last quarter. TD Asset Management Inc. increased its position in shares of Bank of Nova Scotia by 2.0% during the first quarter. TD Asset Management Inc. now owns 35,459,260 shares of the bank’s stock worth $1,888,223,000 after purchasing an additional 703,589 shares in the last quarter. Finally, Highstreet Asset Management Inc. increased its position in shares of Bank of Nova Scotia by 36.4% during the second quarter. Highstreet Asset Management Inc. now owns 2,364,846 shares of the bank’s stock worth $127,023,000 after purchasing an additional 631,295 shares in the last quarter. 45.66% of the stock is owned by hedge funds and other institutional investors.
Shares of BNS stock traded up $0.50 during trading hours on Wednesday, reaching $55.94. The company had a trading volume of 59,989 shares, compared to its average volume of 833,232. Bank of Nova Scotia has a 12-month low of $48.34 and a 12-month high of $60.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $67.79 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 2.60 and a beta of 1.18. The stock has a fifty day moving average of $52.61 and a 200-day moving average of $53.45.
Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, August 27th. The bank reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.04. Bank of Nova Scotia had a return on equity of 13.53% and a net margin of 18.32%. The firm had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.86 billion. During the same quarter last year, the business posted $1.76 earnings per share. The firm’s revenue was up 6.7% compared to the same quarter last year. On average, analysts forecast that Bank of Nova Scotia will post 5.36 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.682 per share. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, September 30th. This represents a $2.73 annualized dividend and a dividend yield of 4.88%. Bank of Nova Scotia’s payout ratio is presently 48.90%.
BNS has been the subject of several recent research reports. Canaccord Genuity reissued a “hold” rating on shares of Bank of Nova Scotia in a research note on Wednesday, August 28th. Barclays reaffirmed an “average” rating and set a $78.00 target price on shares of Bank of Nova Scotia in a research note on Thursday, May 30th. ValuEngine lowered shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research cut shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Finally, Credit Suisse Group raised their price target on shares of Bank of Nova Scotia from $73.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $76.17.
About Bank of Nova Scotia
The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company 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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