Fox Run Management L.L.C. Takes Position in Bank of Nova Scotia (The) (BNS)

Fox Run Management L.L.C. bought a new position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,800 shares of the bank’s stock, valued at approximately $373,000.

A number of other hedge funds have also recently added to or reduced their stakes in BNS. Stanley Laman Group Ltd. grew its stake 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 valued at $554,000 after buying an additional 39 shares during the period. New England Research & Management Inc. lifted its holdings in shares of Bank of Nova Scotia (The) by 1.3% during the 2nd quarter. New England Research & Management Inc. now owns 5,700 shares of the bank’s stock valued at $343,000 after acquiring an additional 75 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of Bank of Nova Scotia (The) by 2.2% during the 2nd quarter. MML Investors Services LLC now owns 4,935 shares of the bank’s stock valued at $297,000 after acquiring an additional 107 shares in the last quarter. Shoker Investment Counsel Inc. lifted its holdings in shares of Bank of Nova Scotia (The) by 1.4% during the 2nd quarter. Shoker Investment Counsel Inc. now owns 9,325 shares of the bank’s stock valued at $560,000 after acquiring an additional 133 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its holdings in shares of Bank of Nova Scotia (The) by 1.8% during the 2nd quarter. Bahl & Gaynor Inc. now owns 8,855 shares of the bank’s stock valued at $493,000 after acquiring an additional 155 shares in the last quarter. 46.48% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently weighed in on BNS. BidaskClub lowered shares of Bank of Nova Scotia (The) from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Zacks Investment Research upgraded shares of Bank of Nova Scotia (The) from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research note on Tuesday, July 18th. Macquarie began coverage on shares of Bank of Nova Scotia (The) in a research note on Tuesday, October 24th. They issued an “outperform” rating on the stock. Citigroup Inc. upgraded shares of Bank of Nova Scotia (The) from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 20th. Finally, Canaccord Genuity began coverage on shares of Bank of Nova Scotia (The) in a research note on Tuesday, July 18th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. Bank of Nova Scotia (The) currently has an average rating of “Buy” and a consensus target price of $83.20.

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Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, August 29th. The bank reported $1.27 EPS for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.38). The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.28 billion. Bank of Nova Scotia (The) had a return on equity of 14.54% and a net margin of 22.26%. During the same period in the prior year, the firm earned $1.54 EPS.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Tuesday, October 3rd were issued a $0.6294 dividend. This is an increase from Bank of Nova Scotia (The)’s previous quarterly dividend of $0.56. This represents a $2.52 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend was Monday, October 2nd. Bank of Nova Scotia (The)’s payout ratio is currently 50.62%.

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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