Van ECK Associates Corp Has $136.84 Million Stock Holdings in Bank of Nova Scotia (The) $BNS

Van ECK Associates Corp trimmed its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 3.8% during the second quarter, Holdings Channel reports. The institutional investor owned 1,578,524 shares of the bank’s stock after selling 62,024 shares during the quarter. Van ECK Associates Corp’s holdings in Bank of Nova Scotia were worth $136,841,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BNS. AQR Capital Management LLC raised its holdings in Bank of Nova Scotia by 111.2% during the 1st quarter. AQR Capital Management LLC now owns 19,096 shares of the bank’s stock worth $911,000 after purchasing an additional 10,056 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Bank of Nova Scotia during the second quarter worth approximately $330,000. EverSource Wealth Advisors LLC raised its stake in shares of Bank of Nova Scotia by 42.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,165 shares of the bank’s stock worth $120,000 after buying an additional 649 shares during the last quarter. Sei Investments Co. lifted its holdings in Bank of Nova Scotia by 2.1% in the second quarter. Sei Investments Co. now owns 21,212 shares of the bank’s stock valued at $1,172,000 after buying an additional 434 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in Bank of Nova Scotia by 61.1% in the second quarter. Quantinno Capital Management LP now owns 66,962 shares of the bank’s stock valued at $3,701,000 after buying an additional 25,400 shares during the period. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Down 0.6%

Shares of NYSE:BNS opened at $92.35 on Friday. The company has a 50 day moving average price of $88.14 and a two-hundred day moving average price of $80.15. 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 company has a market capitalization of $112.56 billion, a PE ratio of 16.71, a PEG ratio of 1.06 and a beta of 1.11. Bank of Nova Scotia has a 52 week low of $61.69 and a 52 week high of $94.96.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. Bank of Nova Scotia had a net margin of 13.91% and a return on equity of 16.12%. The company had revenue of $7.24 billion for the quarter, compared to analysts’ expectations of $7.13 billion. During the same period last year, the firm posted $1.52 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Analysts forecast that Bank of Nova Scotia will post 6.08 earnings per share for the current year.

Bank of Nova Scotia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Tuesday, October 6th will be paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Tuesday, October 6th. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 58.05%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BNS shares. Royal Bank Of Canada lifted their target price on shares of 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 issued an “outperform” rating on the stock. TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday. National Bank Financial raised Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a research note on Wednesday. Finally, Weiss Ratings downgraded Bank of Nova Scotia from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, August 18th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Moderate Buy” and an average target price of $117.00.

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.