Ontario Teachers Pension Plan Board purchased a new position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,236 shares of the bank's stock, valued at approximately $1,211,000.
Several other institutional investors have also modified their holdings of the business. 1832 Asset Management L.P. raised its holdings in Bank of Nova Scotia by 16.1% during the 1st quarter. 1832 Asset Management L.P. now owns 17,015,877 shares of the bank's stock worth $881,082,000 after buying an additional 2,361,136 shares during the period. Mackenzie Financial Corp lifted its position in Bank of Nova Scotia by 4.7% in the 2nd quarter. Mackenzie Financial Corp now owns 15,091,880 shares of the bank's stock valued at $690,438,000 after acquiring an additional 683,946 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Bank of Nova Scotia by 2.4% in the 3rd quarter. CIBC Asset Management Inc now owns 10,074,518 shares of the bank's stock worth $550,729,000 after purchasing an additional 240,803 shares during the period. Legal & General Group Plc increased its holdings in Bank of Nova Scotia by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 9,281,724 shares of the bank's stock worth $424,497,000 after purchasing an additional 57,796 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Bank of Nova Scotia by 7.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,004,496 shares of the bank's stock valued at $207,349,000 after purchasing an additional 277,218 shares during the period. Institutional investors own 49.13% of the company's stock.
Bank of Nova Scotia Stock Performance
Shares of NYSE:BNS traded up $0.26 on Thursday, hitting $56.56. The company had a trading volume of 249,568 shares, compared to its average volume of 1,779,711. The stock has a 50 day moving average price of $53.24 and a 200 day moving average price of $49.29. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61. The stock has a market cap of $70.39 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 1.67 and a beta of 1.05. The Bank of Nova Scotia has a 1-year low of $41.80 and a 1-year high of $56.64.
Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last released its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.01. The business had revenue of $8.36 billion during the quarter, compared to analysts' expectations of $8.53 billion. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $1.30 EPS. Analysts expect that The Bank of Nova Scotia will post 4.75 EPS for the current year.
Bank of Nova Scotia Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd were given a dividend of $0.768 per share. This represents a $3.07 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date of this dividend was Wednesday, October 2nd. Bank of Nova Scotia's dividend payout ratio is currently 74.88%.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on BNS shares. Barclays raised Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a research report on Thursday. Cibc World Mkts upgraded shares of Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a report on Friday, September 20th. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday. TD Securities upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Finally, Bank of America upgraded Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $69.00.
Check Out Our Latest Report on BNS
Bank of Nova Scotia Profile
(
Free Report)
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.
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