Bank of Nova Scotia (The) $BNS is Mufg Securities Canada LTD.’s 8th Largest Position

Mufg Securities Canada LTD. trimmed its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 4.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,738,562 shares of the bank’s stock after selling 90,045 shares during the quarter. Bank of Nova Scotia accounts for approximately 4.0% of Mufg Securities Canada LTD.’s portfolio, making the stock its 8th largest holding. Mufg Securities Canada LTD. owned about 0.14% of Bank of Nova Scotia worth $150,869,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Kepler Cheuvreux Suisse SA raised its stake in shares of Bank of Nova Scotia by 85.7% during the fourth quarter. Kepler Cheuvreux Suisse SA now owns 246,523 shares of the bank’s stock valued at $18,166,000 after purchasing an additional 113,765 shares during the period. Triasima Portfolio Management inc. lifted its holdings in Bank of Nova Scotia by 22.6% in the 4th quarter. Triasima Portfolio Management inc. now owns 129,807 shares of the bank’s stock worth $9,586,000 after buying an additional 23,925 shares in the last quarter. PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in Bank of Nova Scotia by 9.3% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 178,226 shares of the bank’s stock worth $15,460,000 after buying an additional 15,100 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in Bank of Nova Scotia in the 4th quarter valued at about $66,527,000. Finally, Norges Bank acquired a new stake in shares of Bank of Nova Scotia during the fourth quarter valued at about $1,368,456,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, August 25th. Keefe, Bruyette & Woods initiated coverage on Bank of Nova Scotia in a research report on Friday, August 21st. They issued an “outperform” rating on the stock. Weiss Ratings cut Bank of Nova Scotia from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, August 18th. National Bank Financial raised shares of Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 26th. Finally, Royal Bank Of Canada lifted their price target on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 28th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $117.00.

Bank of Nova Scotia Stock Down 0.9%

Shares of Bank of Nova Scotia stock opened at $91.57 on Tuesday. The business has a 50-day moving average price of $88.23 and a 200 day moving average price of $80.26. Bank of Nova Scotia has a fifty-two week low of $61.69 and a fifty-two week high of $94.96. The firm has a market cap of $111.61 billion, a P/E ratio of 16.57, a P/E/G ratio of 1.05 and a beta of 1.11. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.98.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its earnings results on Tuesday, August 25th. The bank reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.11. The company had revenue of $7.52 billion for the quarter, compared to the consensus estimate of $7.11 billion. Bank of Nova Scotia had a return on equity of 16.12% and a net margin of 13.91%.Bank of Nova Scotia’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 EPS. On average, sell-side analysts forecast that Bank of Nova Scotia will post 6.14 earnings per share for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Tuesday, October 6th will be issued a dividend of $1.14 per share. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $4.56 annualized dividend and a dividend yield of 5.0%. Bank of Nova Scotia’s dividend payout ratio is 58.05%.

Bank of Nova Scotia Profile

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.