TD Waterhouse Canada Inc. Has $303.41 Million Stake in Bank of Nova Scotia (The) $BNS

TD Waterhouse Canada Inc. lowered its stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 1.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,708,008 shares of the bank’s stock after selling 77,480 shares during the period. Bank of Nova Scotia accounts for approximately 2.0% of TD Waterhouse Canada Inc.’s holdings, making the stock its 8th biggest holding. TD Waterhouse Canada Inc. owned 0.38% of Bank of Nova Scotia worth $303,412,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in Bank of Nova Scotia by 3.8% during the second quarter. Bank of New York Mellon Corp now owns 1,200,107 shares of the bank’s stock valued at $66,330,000 after acquiring an additional 44,316 shares during the period. Y Intercept Hong Kong Ltd increased its position in shares of Bank of Nova Scotia by 1,439.7% during the second quarter. Y Intercept Hong Kong Ltd now owns 108,750 shares of the bank’s stock valued at $6,011,000 after purchasing an additional 101,687 shares during the period. AGF Management Ltd. acquired a new position in shares of Bank of Nova Scotia in the second quarter valued at $21,803,000. Scheer Rowlett & Associates Investment Management Ltd. lifted its position in Bank of Nova Scotia by 2.9% in the second quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,188,376 shares of the bank’s stock worth $65,755,000 after purchasing an additional 33,800 shares during the period. Finally, Public Sector Pension Investment Board boosted its stake in Bank of Nova Scotia by 1,073.1% during the second quarter. Public Sector Pension Investment Board now owns 1,410,536 shares of the bank’s stock worth $77,840,000 after buying an additional 1,290,300 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bank of Nova Scotia in a research report on Monday, December 29th. Raymond James Financial initiated coverage on Bank of Nova Scotia in a report on Tuesday, November 25th. They set an “outperform” rating on the stock. Finally, Royal Bank Of Canada increased their target price on Bank of Nova Scotia from $86.00 to $97.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 3rd. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $97.00.

Bank of Nova Scotia Stock Performance

Shares of NYSE:BNS opened at $75.29 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.70. Bank of Nova Scotia has a 1-year low of $44.09 and a 1-year high of $76.52. The stock has a market capitalization of $92.96 billion, a P/E ratio of 18.73, a P/E/G ratio of 1.00 and a beta of 1.11. The business has a 50-day moving average price of $72.29 and a two-hundred day moving average price of $65.47.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, December 2nd. The bank reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. Bank of Nova Scotia had a net margin of 10.60% and a return on equity of 12.10%. The firm had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $6.85 billion. During the same period last year, the firm earned $1.57 earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities analysts predict that Bank of Nova Scotia will post 4.91 earnings per share for the current year.

Bank of Nova Scotia Dividend Announcement

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

Bank of Nova Scotia 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.