Aviso Financial Inc. Raises Stock Position in Bank of Nova Scotia (The) $BNS

Aviso Financial Inc. raised its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 286,820 shares of the bank’s stock after buying an additional 8,841 shares during the period. Bank of Nova Scotia comprises approximately 0.8% of Aviso Financial Inc.’s holdings, making the stock its 29th largest position. Aviso Financial Inc.’s holdings in Bank of Nova Scotia were worth $18,549,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BNS. Mondrian Investment Partners LTD bought a new stake in shares of Bank of Nova Scotia in the third quarter worth $30,000. Cypress Capital Management LLC WY purchased a new stake in shares of Bank of Nova Scotia during the 2nd quarter valued at about $33,000. Smartleaf Asset Management LLC lifted its stake in shares of Bank of Nova Scotia by 3,304.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 783 shares of the bank’s stock worth $51,000 after purchasing an additional 760 shares during the period. VSM Wealth Advisory LLC purchased a new position in shares of Bank of Nova Scotia in the second quarter worth approximately $55,000. Finally, Toth Financial Advisory Corp purchased a new position in shares of Bank of Nova Scotia in the third quarter worth approximately $67,000. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Trading Down 1.3%

Shares of BNS stock opened at $75.76 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.04 and a current ratio of 1.05. The stock has a fifty day simple moving average of $74.75 and a two-hundred day simple moving average of $68.59. The firm has a market capitalization of $93.39 billion, a PE ratio of 15.75, a PEG ratio of 0.92 and a beta of 1.11. Bank of Nova Scotia has a 52-week low of $44.09 and a 52-week high of $78.28.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, February 24th. The bank reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.06. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The company had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $6.99 billion. During the same quarter last year, the company earned $1.76 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. On average, analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 7th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Tuesday, April 7th. Bank of Nova Scotia’s payout ratio is 66.74%.

Wall Street Analysts Forecast Growth

BNS has been the topic of several recent research reports. Raymond James Financial started coverage on shares of Bank of Nova Scotia in a research report on Tuesday, November 25th. They issued an “outperform” rating on the stock. Royal Bank Of Canada upped their price target on Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Finally, Weiss Ratings raised Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Bank of Nova Scotia currently has an average rating of “Moderate Buy” and an average target price of $106.00.

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.