First Republic Investment Management Inc. grew its position in Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 795,559 shares of the bank’s stock after acquiring an additional 13,836 shares during the quarter. First Republic Investment Management Inc. owned 0.06% of Bank of Nova Scotia worth $47,439,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in BNS. Advisors Asset Management Inc. lifted its position in shares of Bank of Nova Scotia by 1,995.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 19,002 shares of the bank’s stock worth $152,000 after acquiring an additional 18,095 shares during the period. Zions Bancorporation bought a new stake in shares of Bank of Nova Scotia in the 3rd quarter worth approximately $160,000. Glassman Wealth Services bought a new stake in shares of Bank of Nova Scotia in the 3rd quarter worth approximately $169,000. BNP Paribas Arbitrage SA bought a new stake in shares of Bank of Nova Scotia in the 2nd quarter worth approximately $200,000. Finally, CAPROCK Group Inc. bought a new stake in shares of Bank of Nova Scotia in the 3rd quarter worth approximately $200,000. Institutional investors own 46.42% of the company’s stock.

Bank of Nova Scotia stock opened at $54.05 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.09. The company has a market cap of $66.32 billion, a P/E ratio of 9.94, a P/E/G ratio of 1.49 and a beta of 1.25. Bank of Nova Scotia has a one year low of $52.09 and a one year high of $66.78.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Tuesday, November 27th. The bank reported $1.35 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.35. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.64 billion. Bank of Nova Scotia had a return on equity of 14.31% and a net margin of 21.04%. Bank of Nova Scotia’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $1.64 EPS. On average, equities research analysts forecast that Bank of Nova Scotia will post 5.68 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 29th. Investors of record on Wednesday, January 2nd will be given a dividend of $0.646 per share. The ex-dividend date is Monday, December 31st. This represents a $2.58 annualized dividend and a dividend yield of 4.78%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 48.35%.

A number of analysts have commented on the company. Zacks Investment Research downgraded Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Friday, November 9th. BMO Capital Markets reiterated a “buy” rating on shares of Bank of Nova Scotia in a research report on Wednesday, November 28th. TD Securities reiterated a “buy” rating on shares of Bank of Nova Scotia in a research report on Wednesday, November 28th. Barclays reiterated an “average” rating and issued a $85.00 price objective on shares of Bank of Nova Scotia in a research report on Friday, November 16th. Finally, Canaccord Genuity restated a “hold” rating on shares of Bank of Nova Scotia in a research report on Thursday, November 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $79.75.

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

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