Intech Investment Management LLC Has $6.94 Million Position in The Bank of Nova Scotia (NYSE:BNS)

Intech Investment Management LLC cut its holdings in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 14.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,216 shares of the bank's stock after selling 20,894 shares during the period. Intech Investment Management LLC's holdings in Bank of Nova Scotia were worth $6,939,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BNS. Sigma Planning Corp raised its holdings in shares of Bank of Nova Scotia by 1.9% during the third quarter. Sigma Planning Corp now owns 11,089 shares of the bank's stock worth $604,000 after acquiring an additional 210 shares during the period. Signaturefd LLC raised its stake in shares of Bank of Nova Scotia by 1.2% in the 3rd quarter. Signaturefd LLC now owns 18,470 shares of the bank's stock valued at $1,006,000 after purchasing an additional 216 shares during the period. Addison Advisors LLC lifted its holdings in shares of Bank of Nova Scotia by 7.3% in the third quarter. Addison Advisors LLC now owns 3,357 shares of the bank's stock valued at $183,000 after purchasing an additional 227 shares in the last quarter. Pacifica Partners Inc. boosted its position in shares of Bank of Nova Scotia by 1.5% during the second quarter. Pacifica Partners Inc. now owns 19,493 shares of the bank's stock worth $889,000 after buying an additional 288 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in shares of Bank of Nova Scotia by 11.9% during the third quarter. Farther Finance Advisors LLC now owns 2,713 shares of the bank's stock worth $148,000 after buying an additional 288 shares in the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BNS has been the topic of several research reports. Bank of America upgraded Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research note on Tuesday. TD Securities upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Barclays raised shares of Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a research report on Thursday. UBS Group raised shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Monday. Finally, Cibc World Mkts upgraded Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $69.00.

Bank of Nova Scotia Stock Performance

NYSE BNS traded up $0.24 on Friday, hitting $56.46. 754,597 shares of the stock were exchanged, compared to its average volume of 1,778,979. The company has a market capitalization of $70.26 billion, a PE ratio of 13.49, a P/E/G ratio of 1.67 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 1.02. The business's fifty day moving average is $53.33 and its 200 day moving average is $49.34. The Bank of Nova Scotia has a 52 week low of $41.80 and a 52 week high of $56.71.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last posted its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.01. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The business had revenue of $8.36 billion during the quarter, compared to analysts' expectations of $8.53 billion. During the same quarter last year, the company posted $1.30 earnings per share. Bank of Nova Scotia's quarterly revenue was up 3.7% on a year-over-year basis. Research analysts anticipate that The Bank of Nova Scotia will post 4.75 EPS for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd were issued a dividend of $0.768 per share. This represents a $3.07 annualized dividend and a yield of 5.44%. The ex-dividend date of this dividend was Wednesday, October 2nd. Bank of Nova Scotia's dividend payout ratio is 74.88%.

Bank of Nova Scotia Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.