Voya Investment Management LLC Decreases Stock Holdings in Bank of Nova Scotia (The) $BNS

Voya Investment Management LLC reduced its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 34.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,329 shares of the bank’s stock after selling 67,530 shares during the quarter. Voya Investment Management LLC’s holdings in Bank of Nova Scotia were worth $8,235,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacifica Partners Inc. increased its position in shares of Bank of Nova Scotia by 1.0% during the 3rd quarter. Pacifica Partners Inc. now owns 18,998 shares of the bank’s stock valued at $1,227,000 after purchasing an additional 190 shares during the last quarter. Addison Advisors LLC grew its position in Bank of Nova Scotia by 6.5% during the second quarter. Addison Advisors LLC now owns 3,275 shares of the bank’s stock valued at $181,000 after buying an additional 199 shares during the period. PDS Planning Inc increased its holdings in Bank of Nova Scotia by 2.9% during the second quarter. PDS Planning Inc now owns 7,097 shares of the bank’s stock worth $392,000 after buying an additional 200 shares during the last quarter. Cromwell Holdings LLC increased its holdings in Bank of Nova Scotia by 7.8% during the second quarter. Cromwell Holdings LLC now owns 2,955 shares of the bank’s stock worth $163,000 after buying an additional 213 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Bank of Nova Scotia by 4.0% in the second quarter. Envestnet Asset Management Inc. now owns 6,039 shares of the bank’s stock worth $334,000 after acquiring an additional 235 shares during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Up 1.0%

BNS opened at $73.74 on Wednesday. Bank of Nova Scotia has a 12 month low of $44.09 and a 12 month high of $73.89. The company has a market cap of $91.14 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 0.95 and a beta of 1.13. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.70. The company has a 50 day moving average of $68.13 and a 200 day moving average of $62.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, December 2nd. The bank reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. Bank of Nova Scotia had a net margin of 10.60% and a return on equity of 12.10%. The business had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $6.85 billion. During the same quarter in the previous year, the firm posted $1.57 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, sell-side analysts expect that Bank of Nova Scotia will post 4.91 EPS for the current year.

Bank of Nova Scotia Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Investors of record on Tuesday, January 6th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, January 6th. This represents a $4.40 dividend on an annualized basis and a yield of 6.0%. Bank of Nova Scotia’s dividend payout ratio is 78.61%.

Analyst Upgrades and Downgrades

BNS has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Bank of Nova Scotia in a research report on Monday. Raymond James Financial started coverage on Bank of Nova Scotia in a research note on Tuesday, November 25th. They issued an “outperform” rating on the stock. Wall Street Zen raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Royal Bank Of Canada boosted their target price on Bank of Nova Scotia from $86.00 to $97.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 3rd. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Bank of Nova Scotia presently has an average rating of “Hold” and an average target price of $97.00.

About Bank of Nova Scotia

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.