Callahan Advisors LLC increased its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 9.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,473 shares of the bank’s stock after buying an additional 1,048 shares during the period. Callahan Advisors LLC’s holdings in Bank of Nova Scotia (The) were worth $750,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Nikko Asset Management Americas Inc. raised its stake in shares of Bank of Nova Scotia (The) by 148.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 34,800 shares of the bank’s stock worth $2,033,000 after buying an additional 20,800 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Bank of Nova Scotia (The) during the first quarter worth $203,000. Acadian Asset Management LLC raised its stake in shares of Bank of Nova Scotia (The) by 415.1% in the first quarter. Acadian Asset Management LLC now owns 621,244 shares of the bank’s stock worth $36,243,000 after buying an additional 500,630 shares in the last quarter. Korea Investment CORP raised its stake in shares of Bank of Nova Scotia (The) by 20.4% in the first quarter. Korea Investment CORP now owns 714,458 shares of the bank’s stock worth $41,679,000 after buying an additional 121,150 shares in the last quarter. Finally, GW Henssler & Associates Ltd. raised its stake in shares of Bank of Nova Scotia (The) by 9.7% in the first quarter. GW Henssler & Associates Ltd. now owns 50,969 shares of the bank’s stock worth $2,985,000 after buying an additional 4,508 shares in the last quarter. Hedge funds and other institutional investors own 49.63% of the company’s stock.

Bank of Nova Scotia (BNS) opened at 61.87 on Friday. Bank of Nova Scotia has a 52 week low of $49.82 and a 52 week high of $63.07. The company has a market cap of $74.36 billion, a P/E ratio of 12.39 and a beta of 1.26. The company’s 50-day moving average is $60.85 and its 200-day moving average is $58.87.

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, May 30th. The bank reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.08. Bank of Nova Scotia (The) had a net margin of 22.17% and a return on equity of 14.45%. The company had revenue of $6.58 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the prior year, the company earned $1.46 EPS. The firm’s revenue was down .2% on a year-over-year basis. On average, analysts anticipate that Bank of Nova Scotia will post $5.13 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Stockholders of record on Tuesday, July 4th were paid a $0.5635 dividend. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 3.64%. Bank of Nova Scotia (The)’s dividend payout ratio (DPR) is 46.97%.

Bank of Nova Scotia (The) announced that its Board of Directors has authorized a stock buyback plan on Tuesday, May 30th that permits the company to buyback 24,000,000 shares. This buyback authorization permits the bank to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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A number of brokerages have weighed in on BNS. BidaskClub lowered shares of Bank of Nova Scotia (The) from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Bank of Nova Scotia (The) from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research note on Tuesday, July 18th. Canaccord Genuity assumed coverage on shares of Bank of Nova Scotia (The) in a research note on Tuesday, July 18th. They set a “buy” rating for the company. Bank of America Corporation raised their price target on shares of Bank of Nova Scotia (The) from $81.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, May 31st. Finally, Royal Bank Of Canada raised their price target on shares of Bank of Nova Scotia (The) from $86.00 to $87.00 and gave the company an “outperform” rating in a research note on Wednesday, May 31st. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $74.67.

Bank of Nova Scotia (The) Company Profile

The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

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Institutional Ownership by Quarter for Bank of Nova Scotia (The) (NYSE:BNS)

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