TD Asset Management Inc Has $1.19 Billion Stock Holdings in Bank of Nova Scotia (The) $BNS

TD Asset Management Inc grew its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,364,021 shares of the bank’s stock after purchasing an additional 229,990 shares during the quarter. Bank of Nova Scotia makes up approximately 1.0% of TD Asset Management Inc’s portfolio, making the stock its 20th largest holding. TD Asset Management Inc’s holdings in Bank of Nova Scotia were worth $1,187,709,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of BNS. AQR Capital Management LLC grew its stake in Bank of Nova Scotia by 111.2% in the 1st quarter. AQR Capital Management LLC now owns 19,096 shares of the bank’s stock valued at $911,000 after buying an additional 10,056 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Bank of Nova Scotia during the second quarter valued at about $330,000. CWM LLC grew its position in shares of Bank of Nova Scotia by 15.8% in the second quarter. CWM LLC now owns 2,084 shares of the bank’s stock valued at $115,000 after purchasing an additional 285 shares during the last quarter. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Bank of Nova Scotia in the second quarter valued at about $270,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Bank of Nova Scotia by 4.0% in the second quarter. Envestnet Asset Management Inc. now owns 6,039 shares of the bank’s stock worth $334,000 after purchasing an additional 235 shares during the period. 49.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bank of Nova Scotia in a report on Monday, December 29th. Raymond James Financial assumed coverage on Bank of Nova Scotia in a research report on Tuesday, November 25th. They issued an “outperform” rating for the company. Finally, Royal Bank Of Canada raised their price objective 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 equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $97.00.

Bank of Nova Scotia Stock Down 0.7%

BNS stock opened at $75.36 on Wednesday. Bank of Nova Scotia has a twelve month low of $44.09 and a twelve month high of $78.28. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.70. The company has a market cap of $92.90 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 1.03 and a beta of 1.11. The business’s 50-day simple moving average is $74.50 and its 200 day simple moving average is $68.25.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, December 2nd. The bank reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. Bank of Nova Scotia had a return on equity of 12.10% and a net margin of 10.60%.The company had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $6.85 billion. During the same quarter last year, the company earned $1.57 EPS. The company’s quarterly revenue was up 15.0% on a year-over-year basis. On average, research analysts anticipate that Bank of Nova Scotia will post 4.91 earnings per share for the current year.

Bank of Nova Scotia Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 7th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Tuesday, April 7th. Bank of Nova Scotia’s dividend payout ratio (DPR) is 79.85%.

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.