Foundations Investment Advisors LLC Purchases Shares of 6,821 Bank of Nova Scotia (The) $BNS

Foundations Investment Advisors LLC acquired a new position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,821 shares of the bank’s stock, valued at approximately $441,000.

A number of other hedge funds have also made changes to their positions in BNS. AQR Capital Management LLC boosted its position in Bank of Nova Scotia by 111.2% during the 1st quarter. AQR Capital Management LLC now owns 19,096 shares of the bank’s stock worth $911,000 after purchasing an additional 10,056 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Bank of Nova Scotia in the second quarter worth about $330,000. HB Wealth Management LLC grew its stake in shares of Bank of Nova Scotia by 18.6% in the second quarter. HB Wealth Management LLC now owns 5,224 shares of the bank’s stock valued at $289,000 after buying an additional 818 shares in the last quarter. Shell Asset Management Co. raised its holdings in shares of Bank of Nova Scotia by 54.1% during the 2nd quarter. Shell Asset Management Co. now owns 61,509 shares of the bank’s stock valued at $3,395,000 after buying an additional 21,606 shares during the period. Finally, Abel Hall LLC acquired a new position in Bank of Nova Scotia during the 2nd quarter worth approximately $337,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Up 0.6%

BNS stock opened at $75.20 on Tuesday. 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 firm has a 50 day simple moving average of $72.82 and a 200-day simple moving average of $65.98. The company has a market capitalization of $92.84 billion, a P/E ratio of 18.71, a PEG ratio of 0.98 and a beta of 1.11. Bank of Nova Scotia has a twelve month low of $44.09 and a twelve month high of $76.56.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Tuesday, December 2nd. The bank reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $6.85 billion. During the same period in the prior year, the company posted $1.57 earnings per share. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. On average, equities research analysts predict that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Tuesday, January 6th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, January 6th. This represents a $4.40 annualized dividend and a dividend yield of 5.9%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 79.60%.

Wall Street Analysts Forecast Growth

BNS has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bank of Nova Scotia in a research report on Monday, December 29th. Raymond James Financial started coverage on shares of Bank of Nova Scotia in a research note on Tuesday, November 25th. They issued an “outperform” rating for the company. Finally, Royal Bank Of Canada lifted their price target on shares of Bank of Nova Scotia from $86.00 to $97.00 and gave the stock 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 issued a Hold rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Hold” and a consensus price target 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.