Andra AP fonden Has $19.13 Million Holdings in Bank of Nova Scotia (The) $BNS

Andra AP fonden boosted its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,260 shares of the bank’s stock after acquiring an additional 5,700 shares during the quarter. Andra AP fonden’s holdings in Bank of Nova Scotia were worth $19,127,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. TD Asset Management Inc grew its stake in Bank of Nova Scotia by 1.7% during the fourth quarter. TD Asset Management Inc now owns 18,674,585 shares of the bank’s stock worth $1,379,120,000 after buying an additional 310,564 shares during the last quarter. Norges Bank bought a new position in Bank of Nova Scotia in the 4th quarter valued at $1,368,456,000. Canada Pension Plan Investment Board bought a new stake in shares of Bank of Nova Scotia during the second quarter worth $1,016,738,000. Geode Capital Management LLC increased its stake in shares of Bank of Nova Scotia by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 12,259,989 shares of the bank’s stock valued at $923,232,000 after buying an additional 799,474 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Bank of Nova Scotia by 0.6% in the fourth quarter. CIBC Asset Management Inc now owns 9,857,887 shares of the bank’s stock valued at $730,958,000 after buying an additional 57,582 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. National Bank Financial raised shares of Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, August 26th. TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, August 25th. Royal Bank Of Canada boosted their price objective on Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a report on Thursday, May 28th. Keefe, Bruyette & Woods initiated coverage on Bank of Nova Scotia in a research note on Friday, August 21st. They set an “outperform” rating for the company. Finally, Weiss Ratings raised shares of Bank of Nova Scotia from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Bank of Nova Scotia currently has an average rating of “Moderate Buy” and an average price target of $117.00.

Bank of Nova Scotia Stock Down 1.4%

Bank of Nova Scotia stock traded down $1.29 during mid-day trading on Tuesday, reaching $94.06. The stock had a trading volume of 759,059 shares, compared to its average volume of 2,347,063. The stock’s 50-day simple moving average is $90.35 and its 200-day simple moving average is $82.11. Bank of Nova Scotia has a fifty-two week low of $62.98 and a fifty-two week high of $95.74. 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 firm has a market capitalization of $114.45 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 1.06 and a beta of 1.12.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, August 25th. The bank reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.11. Bank of Nova Scotia had a net margin of 13.91% and a return on equity of 16.12%. The firm had revenue of $7.52 billion during the quarter, compared to analysts’ expectations of $7.11 billion. During the same period last year, the company earned $1.84 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts forecast that Bank of Nova Scotia will post 6.19 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

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 $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Tuesday, October 6th. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 58.05%.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia, operating as Scotiabank, is a Canadian financial institution headquartered in Toronto, Ontario. Founded in Halifax in 1832, the bank provides banking and financial services to individuals, businesses, institutions and governments.

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

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