Bank of Nova Scotia (The) $BNS Stock Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. trimmed its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 2.6% in the third quarter, Holdings Channel reports. The firm owned 8,810,703 shares of the bank’s stock after selling 234,200 shares during the quarter. Bank of Nova Scotia accounts for 2.1% of TD Waterhouse Canada Inc.’s holdings, making the stock its 9th biggest holding. TD Waterhouse Canada Inc.’s holdings in Bank of Nova Scotia were worth $796,537,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BNS. Triasima Portfolio Management inc. increased its holdings in shares of Bank of Nova Scotia by 0.8% in the 3rd quarter. Triasima Portfolio Management inc. now owns 129,745 shares of the bank’s stock valued at $11,826,000 after acquiring an additional 1,065 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in Bank of Nova Scotia during the third quarter worth $317,000. Riversedge Advisors LLC lifted its stake in Bank of Nova Scotia by 4.6% during the third quarter. Riversedge Advisors LLC now owns 2,825 shares of the bank’s stock worth $257,000 after purchasing an additional 125 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its stake in Bank of Nova Scotia by 0.9% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 362,643 shares of the bank’s stock worth $33,055,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Bank of Nova Scotia by 5.9% in the third quarter. Farther Finance Advisors LLC now owns 12,823 shares of the bank’s stock worth $1,165,000 after purchasing an additional 720 shares during the period. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BNS shares. TD raised shares of Bank of Nova Scotia to a “buy” rating in a report on Wednesday, August 26th. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, August 25th. Weiss Ratings raised shares of Bank of Nova Scotia from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th. Keefe, Bruyette & Woods assumed coverage on shares of Bank of Nova Scotia in a research report on Friday, August 21st. They set an “outperform” rating for the company. Finally, National Bank Financial upgraded shares of Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Bank of Nova Scotia presently has an average rating of “Moderate Buy” and a consensus target price of $105.50.

Bank of Nova Scotia Stock Performance

Shares of BNS traded up $0.46 during midday trading on Friday, hitting $91.58. 909,735 shares of the stock traded hands, compared to its average volume of 2,011,292. Bank of Nova Scotia has a 1-year low of $63.68 and a 1-year high of $95.74. The firm has a market capitalization of $111.44 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 1.02 and a beta of 1.14. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50 day moving average price is $91.42 and its two-hundred day moving average price is $84.77.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Tuesday, August 25th. The bank reported $1.64 EPS for the quarter, beating the consensus estimate of $1.53 by $0.11. The company had revenue of $7.52 billion for the quarter, compared to analyst estimates of $7.11 billion. Bank of Nova Scotia had a net margin of 13.91% and a return on equity of 16.12%. Bank of Nova Scotia’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.84 earnings per share. Equities research analysts predict that Bank of Nova Scotia will post 6.19 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Tuesday, October 6th will be given a C$1.14 dividend. The ex-dividend date is Tuesday, October 6th. This represents a $4.56 annualized dividend and a yield of 5.0%. Bank of Nova Scotia’s payout ratio is 57.87%.

Bank of Nova Scotia Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian financial services company headquartered in Toronto, Ontario. Founded in 1832, it is one of Canada’s largest banks and provides a broad range of banking and financial services to individuals, businesses, institutions and governments.

Scotiabank’s principal activities include Canadian personal and commercial banking, wealth management, and global banking and markets. Its products and services include deposit accounts, residential mortgages, consumer and business loans, credit cards, investment and advisory services, foreign exchange, capital markets and corporate finance.

The bank serves customers across Canada and maintains international operations, particularly in Mexico, Peru, Chile and selected markets in the Caribbean and Central America.