Keybank National Association OH reduced its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 6.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,931 shares of the bank’s stock after selling 7,683 shares during the period. Keybank National Association OH’s holdings in Bank of Nova Scotia (The) were worth $6,851,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. OMERS ADMINISTRATION Corp raised its position in shares of Bank of Nova Scotia (The) by 5.3% in the second quarter. OMERS ADMINISTRATION Corp now owns 3,406,680 shares of the bank’s stock worth $204,632,000 after buying an additional 170,800 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Bank of Nova Scotia (The) during the second quarter worth $400,000. Willingdon Wealth Management bought a new position in shares of Bank of Nova Scotia (The) during the second quarter worth $2,117,000. Stanley Laman Group Ltd. raised its position in shares of Bank of Nova Scotia (The) by 0.4% in the second quarter. Stanley Laman Group Ltd. now owns 9,206 shares of the bank’s stock worth $554,000 after buying an additional 39 shares during the last quarter. Finally, Aviva PLC raised its position in shares of Bank of Nova Scotia (The) by 1.4% in the second quarter. Aviva PLC now owns 760,467 shares of the bank’s stock worth $45,686,000 after buying an additional 10,330 shares during the last quarter. 45.12% of the stock is owned by hedge funds and other institutional investors.

Shares of Bank of Nova Scotia (NYSE BNS) opened at 61.75 on Wednesday. Bank of Nova Scotia has a 12 month low of $51.21 and a 12 month high of $63.07. The company has a market capitalization of $74.22 billion, a PE ratio of 12.45 and a beta of 1.26. The firm’s 50-day moving average is $61.64 and its 200 day moving average is $59.16.

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, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.08. Bank of Nova Scotia (The) had a net margin of 22.17% and a return on equity of 14.45%. The company had revenue of $6.58 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same period in the prior year, the firm posted $1.46 EPS. Bank of Nova Scotia (The)’s revenue for the quarter was down .2% on a year-over-year basis. Equities research analysts predict that Bank of Nova Scotia will post $5.21 EPS for the current year.

Bank of Nova Scotia (The) announced that its Board of Directors has approved a stock buyback plan on Tuesday, May 30th that permits the company to buyback 24,000,000 outstanding shares. This buyback authorization permits the bank to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Tuesday, October 3rd will be given a dividend of $0.6294 per share. This represents a $2.52 annualized dividend and a yield of 4.08%. This is an increase from Bank of Nova Scotia (The)’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Monday, October 2nd. Bank of Nova Scotia (The)’s dividend payout ratio is 46.97%.

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A number of equities analysts recently weighed in on the stock. Canaccord Genuity set a $87.00 target price on shares of Bank of Nova Scotia (The) and gave the stock a “buy” rating in a research note on Tuesday. BidaskClub raised shares of Bank of Nova Scotia (The) from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Zacks Investment Research raised shares of Bank of Nova Scotia (The) from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Tuesday, July 18th. Bank of America Corporation upped their target price on shares of Bank of Nova Scotia (The) from $81.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, May 31st. Finally, Royal Bank Of Canada upped their target price on shares of Bank of Nova Scotia (The) from $86.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 31st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Bank of Nova Scotia (The) presently has an average rating of “Buy” and a consensus target price of $76.00.

Bank of Nova Scotia (The) Company Profile

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.

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

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