Smithfield Trust Co. continued to hold its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,000 shares of the bank’s stock at the end of the second quarter. Smithfield Trust Co.’s holdings in Bank of Nova Scotia (The) were worth $180,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Korea Investment CORP boosted its position in shares of Bank of Nova Scotia (The) by 4.1% in the second quarter. Korea Investment CORP now owns 743,974 shares of the bank’s stock worth $44,689,000 after buying an additional 29,516 shares in the last quarter. Sei Investments Co. purchased a new position in shares of Bank of Nova Scotia (The) during the second quarter worth about $3,050,000. Eliot Finkel Investment Counsel LLC boosted its position in shares of Bank of Nova Scotia (The) by 114.4% in the second quarter. Eliot Finkel Investment Counsel LLC now owns 56,890 shares of the bank’s stock worth $3,421,000 after buying an additional 30,360 shares in the last quarter. K.J. Harrison & Partners Inc boosted its position in shares of Bank of Nova Scotia (The) by 15.2% in the second quarter. K.J. Harrison & Partners Inc now owns 59,103 shares of the bank’s stock worth $3,551,000 after buying an additional 7,818 shares in the last quarter. Finally, CAPROCK Group Inc. purchased a new position in shares of Bank of Nova Scotia (The) during the second quarter worth about $211,000. Hedge funds and other institutional investors own 49.93% of the company’s stock.

Bank of Nova Scotia (NYSE:BNS) opened at 61.63 on Wednesday. Bank of Nova Scotia has a 52 week low of $50.43 and a 52 week high of $63.07. The firm has a 50-day moving average of $61.15 and a 200-day moving average of $58.94. The company has a market cap of $74.07 billion, a price-to-earnings ratio of 12.35 and a beta of 1.26.

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, May 30th. The bank reported $1.23 EPS for the quarter, topping the consensus estimate of $1.15 by $0.08. The company had revenue of $6.58 billion during the quarter, compared to the consensus estimate of $6.73 billion. Bank of Nova Scotia (The) had a net margin of 22.17% and a return on equity of 14.45%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 EPS. Equities analysts forecast that Bank of Nova Scotia will post $5.11 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Stockholders of record on Tuesday, July 4th were given a dividend of $0.5635 per share. This represents a $2.25 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Thursday, June 29th. 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 approved a stock repurchase program on Tuesday, May 30th that authorizes the company to buyback 24,000,000 shares. This buyback authorization authorizes the bank to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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

About Bank of Nova Scotia (The)

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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