Bank of Nova Scotia (The) $BNS Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lessened its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 8.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 180,743 shares of the bank’s stock after selling 15,753 shares during the period. Intech Investment Management LLC’s holdings in Bank of Nova Scotia were worth $11,690,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings 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 purchasing an additional 10,056 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Bank of Nova Scotia in the second quarter valued at approximately $330,000. CWM LLC grew its position in Bank of Nova Scotia by 15.8% in the second quarter. CWM LLC now owns 2,084 shares of the bank’s stock worth $115,000 after acquiring an additional 285 shares during the period. Focus Partners Advisor Solutions LLC acquired a new stake in Bank of Nova Scotia during the second quarter worth $270,000. Finally, Envestnet Asset Management Inc. increased its stake in Bank of Nova Scotia by 4.0% during the second quarter. Envestnet Asset Management Inc. now owns 6,039 shares of the bank’s stock worth $334,000 after acquiring an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BNS. Royal Bank Of Canada increased their price target on Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a “sector perform” rating in a report on Wednesday. Weiss Ratings raised shares of Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday. Finally, Raymond James Financial initiated coverage on shares of Bank of Nova Scotia in a research note on Tuesday, November 25th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Bank of Nova Scotia has an average rating of “Moderate Buy” and an average target price of $106.00.

Bank of Nova Scotia Stock Up 1.1%

Shares of NYSE:BNS opened at $76.76 on Friday. The firm has a market capitalization of $94.63 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 1.00 and a beta of 1.11. Bank of Nova Scotia has a 1 year low of $44.09 and a 1 year high of $78.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.05 and a quick ratio of 1.04. The firm’s 50-day moving average is $74.69 and its two-hundred day moving average is $68.36.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, February 24th. The bank reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.06. Bank of Nova Scotia had a net margin of 12.40% and a return on equity of 12.49%. The firm had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $6.99 billion. During the same quarter in the previous year, the business posted $1.76 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. Analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current year.

Bank of Nova Scotia Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 7th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, April 7th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 5.7%. Bank of Nova Scotia’s dividend payout ratio is currently 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.