Bank of Nova Scotia (BNS) Shares Bought by AGF Investments Inc.

Share on StockTwits

AGF Investments Inc. boosted its position in Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 56.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,006,898 shares of the bank’s stock after purchasing an additional 723,511 shares during the period. Bank of Nova Scotia comprises approximately 1.2% of AGF Investments Inc.’s portfolio, making the stock its 16th biggest holding. AGF Investments Inc. owned 0.16% of Bank of Nova Scotia worth $113,637,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Toronto Dominion Bank lifted its stake in Bank of Nova Scotia by 37.5% in the second quarter. Toronto Dominion Bank now owns 20,945,499 shares of the bank’s stock valued at $1,199,742,000 after purchasing an additional 5,709,563 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its position in shares of Bank of Nova Scotia by 20.1% during the second quarter. OMERS ADMINISTRATION Corp now owns 6,920,196 shares of the bank’s stock worth $391,607,000 after acquiring an additional 1,159,645 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Bank of Nova Scotia by 9.4% during the second quarter. First Trust Advisors LP now owns 369,408 shares of the bank’s stock worth $21,138,000 after acquiring an additional 31,590 shares in the last quarter. Rathbone Brothers plc lifted its position in shares of Bank of Nova Scotia by 0.8% during the second quarter. Rathbone Brothers plc now owns 265,966 shares of the bank’s stock worth $15,051,000 after acquiring an additional 2,040 shares in the last quarter. Finally, Virginia Retirement Systems ET AL lifted its position in shares of Bank of Nova Scotia by 22.2% during the second quarter. Virginia Retirement Systems ET AL now owns 221,100 shares of the bank’s stock worth $12,512,000 after acquiring an additional 40,100 shares in the last quarter. Institutional investors and hedge funds own 46.41% of the company’s stock.

BNS has been the topic of several recent research reports. Zacks Investment Research upgraded Bank of Nova Scotia from a “sell” rating to a “hold” rating and set a $65.00 target price on the stock in a research report on Wednesday, August 8th. Royal Bank of Canada downgraded Bank of Nova Scotia from an “outperform” rating to a “sector perform” rating in a research report on Monday, June 11th. Bank of America downgraded Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 5th. Desjardins restated a “buy” rating on shares of Bank of Nova Scotia in a research report on Friday, June 8th. Finally, National Bank Financial downgraded Bank of Nova Scotia from an “outperform” rating to a “sector perform” rating in a research report on Friday, June 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Bank of Nova Scotia presently has a consensus rating of “Hold” and a consensus price target of $84.33.

NYSE:BNS opened at $58.38 on Friday. The firm has a market cap of $74.52 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 1.78 and a beta of 1.28. Bank of Nova Scotia has a 1 year low of $55.85 and a 1 year high of $66.78. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.10.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Tuesday, August 28th. The bank reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.39. The firm had revenue of $7.18 billion for the quarter, compared to the consensus estimate of $7.34 billion. Bank of Nova Scotia had a return on equity of 14.87% and a net margin of 22.29%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.66 earnings per share. analysts predict that Bank of Nova Scotia will post 5.43 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 29th. Stockholders of record on Tuesday, October 2nd will be issued a $0.6539 dividend. The ex-dividend date is Monday, October 1st. This represents a $2.62 annualized dividend and a dividend yield of 4.48%. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.64. Bank of Nova Scotia’s dividend payout ratio is presently 47.71%.

Bank of Nova Scotia Profile

The Bank of Nova Scotia provides various financial services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. It offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

Featured Story: Average Daily Trade Volume – ADTV

Institutional Ownership by Quarter for Bank of Nova Scotia (NYSE:BNS)

Receive News & Ratings for Bank of Nova Scotia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Nova Scotia and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply