Howland Capital Management LLC Raises Stake in Bank of Nova Scotia (The) (BNS)

Howland Capital Management LLC raised its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 2.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 102,362 shares of the bank’s stock after acquiring an additional 2,350 shares during the quarter. Howland Capital Management LLC’s holdings in Bank of Nova Scotia (The) were worth $6,577,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its stake in shares of Bank of Nova Scotia (The) by 176.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 29,019 shares of the bank’s stock valued at $1,695,000 after buying an additional 18,519 shares in the last quarter. New England Research & Management Inc. boosted its position in Bank of Nova Scotia (The) by 1.3% during the second quarter. New England Research & Management Inc. now owns 5,700 shares of the bank’s stock worth $343,000 after purchasing an additional 75 shares during the period. Pennsylvania Trust Co boosted its position in Bank of Nova Scotia (The) by 12.6% during the second quarter. Pennsylvania Trust Co now owns 13,230 shares of the bank’s stock worth $831,000 after purchasing an additional 1,485 shares during the period. Creative Planning boosted its position in Bank of Nova Scotia (The) by 7.8% during the second quarter. Creative Planning now owns 14,383 shares of the bank’s stock worth $865,000 after purchasing an additional 1,044 shares during the period. Finally, Nexus Investment Management Inc. boosted its position in Bank of Nova Scotia (The) by 0.5% during the second quarter. Nexus Investment Management Inc. now owns 567,659 shares of the bank’s stock worth $34,109,000 after purchasing an additional 3,050 shares during the period. 46.48% of the stock is owned by institutional investors.

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, August 29th. The bank reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.38). The company had revenue of $5.22 billion for the quarter, compared to analysts’ expectations 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 last year, the company posted $1.54 EPS.

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

BNS has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Bank of Nova Scotia (The) from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Tuesday, July 18th. Canaccord Genuity initiated coverage on shares of Bank of Nova Scotia (The) in a research report on Tuesday, July 18th. They set a “buy” rating for the company. BidaskClub raised shares of Bank of Nova Scotia (The) from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Citigroup Inc. raised shares of Bank of Nova Scotia (The) from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 20th. Finally, Scotiabank reaffirmed a “buy” rating and set a $88.00 price objective on shares of Bank of Nova Scotia (The) in a research report on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Bank of Nova Scotia (The) currently has a consensus rating of “Buy” and a consensus price target of $83.20.

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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.

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

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