Intact Investment Management Inc. Raises Holdings in The Bank of Nova Scotia (NYSE:BNS)

Intact Investment Management Inc. raised its position in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 48.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,563,594 shares of the bank's stock after purchasing an additional 509,120 shares during the quarter. Bank of Nova Scotia makes up approximately 2.8% of Intact Investment Management Inc.'s investment portfolio, making the stock its 5th largest holding. Intact Investment Management Inc. owned approximately 0.13% of Bank of Nova Scotia worth $85,201,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BNS. Mather Group LLC. boosted its position in Bank of Nova Scotia by 1,388.9% during the second quarter. Mather Group LLC. now owns 536 shares of the bank's stock valued at $25,000 after acquiring an additional 500 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Bank of Nova Scotia by 3,127.8% during the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank's stock valued at $27,000 after purchasing an additional 563 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Bank of Nova Scotia during the first quarter worth approximately $53,000. City State Bank bought a new stake in Bank of Nova Scotia in the third quarter worth approximately $57,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Bank of Nova Scotia by 102.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,605 shares of the bank's stock valued at $83,000 after buying an additional 811 shares during the period. Institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Stock Up 2.2 %

Shares of Bank of Nova Scotia stock traded up $1.14 during trading hours on Monday, reaching $53.04. The company's stock had a trading volume of 1,857,163 shares, compared to its average volume of 1,817,159. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.02. The stock's fifty day simple moving average is $52.21 and its two-hundred day simple moving average is $48.62. The company has a market capitalization of $65.64 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.63 and a beta of 1.05. The Bank of Nova Scotia has a one year low of $41.80 and a one year high of $55.12.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last issued its quarterly earnings data on Tuesday, August 27th. The bank reported $1.63 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $8.36 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same period in the prior year, the business posted $1.30 earnings per share. The company's quarterly revenue was up 3.7% compared to the same quarter last year. On average, research analysts forecast that The Bank of Nova Scotia will post 4.8 earnings per share for the current year.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd were issued a $0.768 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $3.07 annualized dividend and a dividend yield of 5.79%. Bank of Nova Scotia's dividend payout ratio is currently 74.88%.

Wall Street Analyst Weigh In

Several analysts have recently commented on BNS shares. TD Securities raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Monday. Cibc World Mkts raised shares of Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $69.00.

Bank of Nova Scotia Company 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.