Jupiter Topco LLC Purchases New Position in Bank of Nova Scotia (The) $BNS

Jupiter Topco LLC acquired a new position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 117,681 shares of the bank’s stock, valued at approximately $10,220,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BNS. Maseco LLP purchased a new stake in Bank of Nova Scotia during the first quarter valued at $30,000. Swiss RE Ltd. bought a new position in Bank of Nova Scotia during the fourth quarter valued at $30,000. Brown Brothers Harriman & Co. purchased a new position in shares of Bank of Nova Scotia in the 4th quarter worth $34,000. Quarry LP bought a new stake in shares of Bank of Nova Scotia in the 3rd quarter worth about $35,000. Finally, CoreCap Advisors LLC increased its holdings in shares of Bank of Nova Scotia by 1,366.7% in the 2nd quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock worth $38,000 after buying an additional 410 shares during the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BNS has been the subject of a number of analyst reports. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, August 25th. Keefe, Bruyette & Woods began coverage on Bank of Nova Scotia in a research report on Friday, August 21st. They set an “outperform” rating on the stock. National Bank Financial raised Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a research note on Wednesday. Weiss Ratings cut Bank of Nova Scotia from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, August 18th. Finally, Royal Bank Of Canada boosted their target price on Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research report on Thursday, May 28th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $117.00.

Bank of Nova Scotia Stock Down 0.6%

Shares of NYSE:BNS opened at $92.35 on Friday. The firm has a market capitalization of $112.56 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.06 and a beta of 1.11. The business has a 50 day simple moving average of $88.14 and a two-hundred day simple moving average of $80.15. Bank of Nova Scotia has a 1 year low of $61.69 and a 1 year high of $94.96. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.04 and a quick ratio of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.05. Bank of Nova Scotia had a return on equity of 16.12% and a net margin of 13.91%.The firm had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same period in the prior year, the business posted $1.52 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts predict that Bank of Nova Scotia will post 6.14 EPS for the current year.

Bank of Nova Scotia Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Tuesday, October 6th will be given a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Tuesday, October 6th. Bank of Nova Scotia’s dividend payout ratio is 58.05%.

Bank of Nova Scotia Company Profile

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.