Skandinaviska Enskilda Banken AB publ Boosts Stock Position in Bank of Nova Scotia (The) $BNS

Skandinaviska Enskilda Banken AB publ increased its stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 10.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 191,717 shares of the bank’s stock after purchasing an additional 17,631 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Bank of Nova Scotia were worth $12,395,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BNS. Cypress Capital Management LLC WY bought a new position in Bank of Nova Scotia in the 2nd quarter worth about $33,000. Smartleaf Asset Management LLC boosted its position in shares of Bank of Nova Scotia by 3,304.3% in the third quarter. Smartleaf Asset Management LLC now owns 783 shares of the bank’s stock valued at $51,000 after acquiring an additional 760 shares during the period. VSM Wealth Advisory LLC purchased a new position in Bank of Nova Scotia during the second quarter valued at approximately $55,000. Toth Financial Advisory Corp bought a new stake in Bank of Nova Scotia during the 3rd quarter worth approximately $67,000. Finally, MAI Capital Management lifted its stake in Bank of Nova Scotia by 27.4% in the 2nd quarter. MAI Capital Management now owns 1,543 shares of the bank’s stock worth $85,000 after purchasing an additional 332 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on BNS shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Bank of Nova Scotia in a report on Monday, December 29th. Raymond James Financial started coverage on Bank of Nova Scotia in a research note on Tuesday, November 25th. They set an “outperform” rating for the company. Finally, Royal Bank Of Canada upped their target price on 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $97.00.

Bank of Nova Scotia Price Performance

BNS opened at $75.99 on Thursday. The stock has a 50-day moving average price of $74.24 and a 200-day moving average price of $67.59. Bank of Nova Scotia has a 12-month low of $44.09 and a 12-month high of $78.28. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $93.67 billion, a P/E ratio of 18.90, a PEG ratio of 0.98 and a beta of 1.11.

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, beating the consensus estimate of $1.33 by $0.06. The firm had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.85 billion. Bank of Nova Scotia had a return on equity of 12.10% and a net margin of 10.60%.The company’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.57 EPS. Equities analysts predict that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Tuesday, January 6th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, January 6th. This represents a $4.40 annualized dividend and a dividend yield of 5.8%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 79.85%.

Bank of Nova Scotia Company 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.