Bank of Montreal Can boosted its holdings in shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 8.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,478,972 shares of the bank’s stock after purchasing an additional 3,741,346 shares during the quarter. Bank of Nova Scotia comprises 2.4% of Bank of Montreal Can’s portfolio, making the stock its 3rd biggest holding. Bank of Montreal Can owned 4.10% of Bank of Nova Scotia worth $3,010,061,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Nicola Wealth Management LTD. bought a new stake in Bank of Nova Scotia in the 1st quarter worth approximately $12,817,000. Dynamic Technology Lab Private Ltd increased its stake in Bank of Nova Scotia by 104.6% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 33,507 shares of the bank’s stock worth $2,067,000 after acquiring an additional 17,130 shares during the last quarter. Avalon Advisors LLC increased its stake in Bank of Nova Scotia by 21.8% in the 1st quarter. Avalon Advisors LLC now owns 16,810 shares of the bank’s stock worth $1,037,000 after acquiring an additional 3,005 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in Bank of Nova Scotia by 3.3% in the 2nd quarter. Gulf International Bank UK Ltd now owns 388,482 shares of the bank’s stock worth $22,019,000 after acquiring an additional 12,550 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. increased its stake in Bank of Nova Scotia by 33.6% in the 2nd quarter. Montrusco Bolton Investments Inc. now owns 2,250,169 shares of the bank’s stock worth $127,335,000 after acquiring an additional 565,781 shares during the last quarter. 46.18% of the stock is currently owned by institutional investors.
BNS has been the topic of a number of research reports. Canaccord Genuity downgraded Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. Zacks Investment Research raised Bank of Nova Scotia from a “sell” rating to a “hold” rating and set a $65.00 price objective on the stock in a research note on Wednesday, August 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $84.33.
Shares of Bank of Nova Scotia stock traded down $0.17 on Friday, reaching $55.12. The company had a trading volume of 134,857 shares, compared to its average volume of 740,184. The stock has a market cap of $73.45 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 1.75 and a beta of 1.27. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.07 and a current ratio of 1.07. Bank of Nova Scotia has a 1 year low of $55.15 and a 1 year high of $66.78.
Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its earnings results on Tuesday, August 28th. The bank reported $1.76 EPS for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.39. The firm had revenue of $7.18 billion during the quarter, compared to analysts’ expectations of $7.34 billion. Bank of Nova Scotia had a return on equity of 14.62% and a net margin of 21.55%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.66 EPS. Sell-side analysts predict that Bank of Nova Scotia will post 5.42 earnings per share for the current fiscal year.
The business also recently announced 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. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.64. The ex-dividend date is Monday, October 1st. This represents a $2.62 dividend on an annualized basis and a dividend yield of 4.75%. Bank of Nova Scotia’s payout ratio is 50.19%.
Bank of Nova Scotia Company 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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