Skandinaviska Enskilda Banken AB publ Boosts Stock Holdings in Bank of Nova Scotia (The) $BNS

Skandinaviska Enskilda Banken AB publ lifted its stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 10.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 191,717 shares of the bank’s stock after buying an additional 17,631 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Bank of Nova Scotia were worth $12,395,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Bank of Nova Scotia by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 56,068,464 shares of the bank’s stock valued at $3,625,499,000 after acquiring an additional 1,063,127 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Bank of Nova Scotia by 9.3% during the third quarter. PNC Financial Services Group Inc. now owns 19,968 shares of the bank’s stock valued at $1,291,000 after purchasing an additional 1,702 shares during the period. Metis Global Partners LLC grew its holdings in shares of Bank of Nova Scotia by 2.2% in the third quarter. Metis Global Partners LLC now owns 56,653 shares of the bank’s stock worth $3,663,000 after purchasing an additional 1,193 shares during the last quarter. Tacita Capital Inc increased its stake in shares of Bank of Nova Scotia by 7.2% in the third quarter. Tacita Capital Inc now owns 33,752 shares of the bank’s stock worth $2,184,000 after buying an additional 2,265 shares during the period. Finally, Public Sector Pension Investment Board raised its holdings in Bank of Nova Scotia by 11.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,575,602 shares of the bank’s stock valued at $101,903,000 after buying an additional 165,066 shares during the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Down 0.3%

BNS stock opened at $75.99 on Thursday. Bank of Nova Scotia has a fifty-two week low of $44.09 and a fifty-two week high of $78.28. The company has a market capitalization of $93.67 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. The business’s 50 day moving average price is $74.24 and its two-hundred day moving average price is $67.59. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.04 and a current ratio of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Tuesday, December 2nd. The bank reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.06. The company had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.85 billion. Bank of Nova Scotia had a return on equity of 12.10% and a net margin of 10.60%.The firm’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.57 earnings per share. As a group, analysts forecast that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Tuesday, January 6th were given a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, January 6th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 5.8%. Bank of Nova Scotia’s dividend payout ratio is currently 79.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BNS shares. Raymond James Financial started coverage on shares of Bank of Nova Scotia in a report on Tuesday, November 25th. They issued an “outperform” rating on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Bank of Nova Scotia in a report on Monday, December 29th. Finally, Royal Bank Of Canada upped their price target on Bank of Nova Scotia from $86.00 to $97.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 3rd. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $97.00.

Bank of Nova Scotia Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.