Andra AP fonden Acquires 5,700 Shares of Bank of Nova Scotia (The) $BNS

Andra AP fonden lifted its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 2.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 220,260 shares of the bank’s stock after acquiring an additional 5,700 shares during the quarter. Andra AP fonden’s holdings in Bank of Nova Scotia were worth $19,127,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BNS. TD Asset Management Inc increased its position in shares of Bank of Nova Scotia by 1.7% during the 4th quarter. TD Asset Management Inc now owns 18,674,585 shares of the bank’s stock valued at $1,379,120,000 after purchasing an additional 310,564 shares during the last quarter. Norges Bank purchased a new stake in Bank of Nova Scotia in the 4th quarter worth about $1,368,456,000. Canada Pension Plan Investment Board bought a new stake in shares of Bank of Nova Scotia in the second quarter valued at approximately $1,016,738,000. Geode Capital Management LLC lifted its position in shares of Bank of Nova Scotia by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 12,259,989 shares of the bank’s stock worth $923,232,000 after acquiring an additional 799,474 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in Bank of Nova Scotia by 0.6% during the fourth quarter. CIBC Asset Management Inc now owns 9,857,887 shares of the bank’s stock valued at $730,958,000 after acquiring an additional 57,582 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on BNS shares. Keefe, Bruyette & Woods started coverage on Bank of Nova Scotia in a report on Friday, August 21st. They set an “outperform” rating for the company. TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, August 25th. Royal Bank Of Canada lifted their price objective on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a report on Thursday, May 28th. National Bank Financial upgraded shares of Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 26th. Finally, Weiss Ratings raised Bank of Nova Scotia from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.00.

Bank of Nova Scotia Trading Down 1.4%

Shares of BNS stock traded down $1.29 on Tuesday, hitting $94.06. 759,059 shares of the company’s stock traded hands, compared to its average volume of 2,347,063. The stock has a market capitalization of $114.45 billion, a price-to-earnings ratio of 17.06, a P/E/G ratio of 1.06 and a beta of 1.12. The company’s fifty day simple moving average is $90.35 and its 200 day simple moving average is $82.11. Bank of Nova Scotia has a one year low of $62.98 and a one year high of $95.74. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.04 and a current ratio of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Tuesday, August 25th. The bank reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.11. Bank of Nova Scotia had a net margin of 13.91% and a return on equity of 16.12%. The business had revenue of $7.52 billion during the quarter, compared to the consensus estimate of $7.11 billion. During the same period in the previous year, the firm posted $1.84 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts forecast that Bank of Nova Scotia will post 6.19 EPS for the current year.

Bank of Nova Scotia Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Tuesday, October 6th will be given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 4.8%. The ex-dividend date is Tuesday, October 6th. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 58.05%.

Bank of Nova Scotia Profile

The Bank of Nova Scotia, operating as Scotiabank, is a Canadian financial institution headquartered in Toronto, Ontario. Founded in Halifax in 1832, the bank provides banking and financial services to individuals, businesses, institutions and governments.

Scotiabank’s principal activities include Canadian personal and commercial banking, international banking, global wealth management, and global banking and markets. Its products and services include deposit accounts, mortgages, consumer and commercial loans, credit cards, investment products, financial planning, asset management, foreign exchange, capital markets services and corporate banking.

The bank serves customers across Canada and maintains international operations in Mexico, Peru, Chile, the Caribbean, Central America and other selected markets.