Bank of Nova Scotia (The) $BNS Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 8.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 180,743 shares of the bank’s stock after selling 15,753 shares during the quarter. Intech Investment Management LLC’s holdings in Bank of Nova Scotia were worth $11,690,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Motco increased its stake in Bank of Nova Scotia by 1.2% in the third quarter. Motco now owns 14,832 shares of the bank’s stock valued at $959,000 after purchasing an additional 181 shares during the period. Pacifica Partners Inc. boosted its holdings in Bank of Nova Scotia by 1.0% during the third quarter. Pacifica Partners Inc. now owns 18,998 shares of the bank’s stock worth $1,227,000 after buying an additional 190 shares in the last quarter. Addison Advisors LLC grew its holdings in shares of Bank of Nova Scotia by 6.5% in the 2nd quarter. Addison Advisors LLC now owns 3,275 shares of the bank’s stock worth $181,000 after acquiring an additional 199 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Bank of Nova Scotia by 9.6% in the third quarter. EverSource Wealth Advisors LLC now owns 2,373 shares of the bank’s stock valued at $153,000 after buying an additional 208 shares in the last quarter. Finally, Fiera Capital Corp increased its holdings in Bank of Nova Scotia by 0.5% during the 3rd quarter. Fiera Capital Corp now owns 45,482 shares of the bank’s stock valued at $2,940,000 after acquiring an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

BNS stock opened at $76.76 on Friday. The company has a market capitalization of $94.63 billion, a PE ratio of 15.96, a P/E/G ratio of 1.00 and a beta of 1.11. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.68. The stock’s 50 day moving average is $74.69 and its two-hundred day moving average is $68.36. Bank of Nova Scotia has a 52-week low of $44.09 and a 52-week high of $78.28.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, February 24th. The bank reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.06. The business had revenue of $7.40 billion during the quarter, compared to analyst estimates of $6.99 billion. Bank of Nova Scotia had a net margin of 12.40% and a return on equity of 12.49%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.76 earnings per share. Analysts predict that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 7th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Tuesday, April 7th. Bank of Nova Scotia’s dividend payout ratio is 79.85%.

Analyst Ratings Changes

A number of research analysts have issued reports on BNS shares. Royal Bank Of Canada upped their target price on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the company a “sector perform” rating in a report on Wednesday. Raymond James Financial began coverage on Bank of Nova Scotia in a report on Tuesday, November 25th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings raised shares of Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

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.