Zions Bancorporation acquired a new stake in shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,680 shares of the bank’s stock, valued at approximately $160,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Bank of Montreal Can grew its position in Bank of Nova Scotia by 8.0% during the 3rd quarter. Bank of Montreal Can now owns 50,478,972 shares of the bank’s stock valued at $3,010,061,000 after purchasing an additional 3,741,346 shares during the last quarter. Toronto Dominion Bank grew its position in Bank of Nova Scotia by 37.5% during the 2nd 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. Great West Life Assurance Co. Can grew its position in Bank of Nova Scotia by 0.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 13,977,544 shares of the bank’s stock valued at $794,079,000 after purchasing an additional 101,106 shares during the last quarter. Letko Brosseau & Associates Inc. grew its position in Bank of Nova Scotia by 2.5% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 7,074,301 shares of the bank’s stock valued at $400,328,000 after purchasing an additional 169,207 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp grew its position in Bank of Nova Scotia by 20.1% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 6,920,196 shares of the bank’s stock valued at $391,607,000 after purchasing an additional 1,159,645 shares during the last quarter. 46.70% of the stock is currently owned by institutional investors.
Shares of NYSE BNS opened at $54.52 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.09. The stock has a market cap of $66.63 billion, a PE ratio of 10.40, a P/E/G ratio of 1.50 and a beta of 1.25. Bank of Nova Scotia has a 52-week low of $52.63 and a 52-week high of $66.78.
Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Tuesday, August 28th. The bank reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 21.55% and a return on equity of 14.62%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.66 EPS. On average, equities research analysts forecast that Bank of Nova Scotia will post 5.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 29th. Stockholders of record on Tuesday, October 2nd were issued a dividend of $0.6539 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date of this dividend was Monday, October 1st. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.64. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 50.19%.
Several analysts recently commented on BNS shares. Zacks Investment Research downgraded shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research report on Tuesday, October 30th. Canaccord Genuity downgraded shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research report on Wednesday, August 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $83.00.
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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.
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