Bank of Nova Scotia (BNS) Holdings Boosted by Bank of America Corp DE

Bank of America Corp DE boosted its stake in shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 4.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,350,863 shares of the bank’s stock after purchasing an additional 109,334 shares during the period. Bank of America Corp DE owned approximately 0.19% of Bank of Nova Scotia worth $134,517,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BNS. Toronto Dominion Bank raised its stake in Bank of Nova Scotia by 37.5% during the second quarter. Toronto Dominion Bank now owns 20,945,499 shares of the bank’s stock worth $1,199,742,000 after purchasing an additional 5,709,563 shares during the period. Fiera Capital Corp raised its stake in shares of Bank of Nova Scotia by 51.3% in the 2nd quarter. Fiera Capital Corp now owns 6,500,295 shares of the bank’s stock valued at $368,111,000 after acquiring an additional 2,204,950 shares during the period. Addenda Capital Inc. raised its stake in shares of Bank of Nova Scotia by 96.5% in the 2nd quarter. Addenda Capital Inc. now owns 2,867,998 shares of the bank’s stock valued at $170,420,000 after acquiring an additional 1,408,794 shares during the period. OMERS ADMINISTRATION Corp raised its stake in shares of Bank of Nova Scotia by 20.1% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 6,920,196 shares of the bank’s stock valued at $391,607,000 after acquiring an additional 1,159,645 shares during the period. Finally, Sentry Investments Corp. raised its stake in shares of Bank of Nova Scotia by 177.1% in the 1st quarter. Sentry Investments Corp. now owns 1,411,402 shares of the bank’s stock valued at $112,009,000 after acquiring an additional 901,989 shares during the period. 46.43% of the stock is currently owned by institutional investors.

BNS has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Wednesday, June 13th. Canaccord Genuity downgraded shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. ValuEngine downgraded shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Monday, June 11th. Royal Bank of Canada downgraded shares of Bank of Nova Scotia from an “outperform” rating to a “sector perform” rating in a research note on Monday, June 11th. Finally, Desjardins reissued a “buy” rating on shares of Bank of Nova Scotia in a research note on Friday, June 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $84.33.

Shares of BNS stock opened at $57.86 on Friday. Bank of Nova Scotia has a 52 week low of $55.85 and a 52 week high of $66.78. 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 firm has a market capitalization of $71.05 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 1.70 and a beta of 1.28.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, August 28th. The bank reported $1.76 EPS for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.39. Bank of Nova Scotia had a net margin of 21.55% and a return on equity of 14.62%. The business had revenue of $7.18 billion for the quarter, compared to the consensus estimate of $7.34 billion. During the same quarter last year, the firm posted $1.66 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. equities analysts expect that Bank of Nova Scotia will post 5.42 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 29th. Investors of record on Tuesday, October 2nd will be issued a dividend of $0.6539 per share. This represents a $2.62 dividend on an annualized basis and a yield of 4.52%. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.64. The ex-dividend date is Monday, October 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 47.71%.

About Bank of Nova Scotia

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

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