Scotia Capital Inc. Acquires 496,634 Shares of Bank of Nova Scotia (The) (BNS)

Scotia Capital Inc. increased its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,806,955 shares of the bank’s stock after acquiring an additional 496,634 shares during the quarter. Bank of Nova Scotia (The) comprises 7.9% of Scotia Capital Inc.’s portfolio, making the stock its biggest holding. Scotia Capital Inc. owned 0.65% of Bank of Nova Scotia (The) worth $469,356,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Stanley Laman Group Ltd. increased its holdings in shares of Bank of Nova Scotia (The) by 0.4% during the 2nd quarter. Stanley Laman Group Ltd. now owns 9,206 shares of the bank’s stock worth $554,000 after acquiring an additional 39 shares during the last quarter. New England Research & Management Inc. boosted its stake in Bank of Nova Scotia (The) by 1.3% in the 2nd quarter. New England Research & Management Inc. now owns 5,700 shares of the bank’s stock valued at $343,000 after purchasing an additional 75 shares during the period. MML Investors Services LLC boosted its stake in Bank of Nova Scotia (The) by 2.2% in the 2nd quarter. MML Investors Services LLC now owns 4,935 shares of the bank’s stock valued at $297,000 after purchasing an additional 107 shares during the period. Shoker Investment Counsel Inc. boosted its stake in Bank of Nova Scotia (The) by 1.4% in the 2nd quarter. Shoker Investment Counsel Inc. now owns 9,325 shares of the bank’s stock valued at $560,000 after purchasing an additional 133 shares during the period. Finally, Bahl & Gaynor Inc. boosted its stake in Bank of Nova Scotia (The) by 1.8% in the 2nd quarter. Bahl & Gaynor Inc. now owns 8,855 shares of the bank’s stock valued at $493,000 after purchasing an additional 155 shares during the period. 45.12% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently issued reports on BNS shares. Citigroup Inc. upgraded Bank of Nova Scotia (The) from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 20th. Scotiabank restated a “buy” rating and issued a $88.00 price target on shares of Bank of Nova Scotia (The) in a research note on Wednesday, August 30th. Canaccord Genuity set a $87.00 price target on Bank of Nova Scotia (The) and gave the company a “buy” rating in a research note on Tuesday, August 29th. Zacks Investment Research upgraded Bank of Nova Scotia (The) from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research note on Tuesday, July 18th. Finally, BidaskClub upgraded Bank of Nova Scotia (The) from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $83.20.

Bank of Nova Scotia (BNS) traded up 1.00% during mid-day trading on Tuesday, hitting $64.49. The stock had a trading volume of 797,392 shares. The firm’s 50-day moving average is $63.13 and its 200 day moving average is $59.89. The company has a market cap of $77.28 billion, a price-to-earnings ratio of 12.22 and a beta of 1.26. Bank of Nova Scotia has a 12 month low of $51.21 and a 12 month high of $64.93.

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Tuesday, August 29th. The bank reported $1.27 EPS for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.38). Bank of Nova Scotia (The) had a return on equity of 14.54% and a net margin of 22.26%. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the previous year, the business earned $1.54 earnings per share. Equities analysts anticipate that Bank of Nova Scotia will post $5.20 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Tuesday, October 3rd will be issued a $0.6294 dividend. This is a positive change from Bank of Nova Scotia (The)’s previous quarterly dividend of $0.56. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Monday, October 2nd. Bank of Nova Scotia (The)’s dividend payout ratio (DPR) is presently 52.06%.

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Bank of Nova Scotia (The) Profile

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.

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

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