Bank of Nova Scotia (The) $BNS Position Lowered by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lowered its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 6.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,044,903 shares of the bank’s stock after selling 629,165 shares during the quarter. Bank of Nova Scotia comprises approximately 2.1% of TD Waterhouse Canada Inc.’s holdings, making the stock its 9th largest holding. TD Waterhouse Canada Inc.’s holdings in Bank of Nova Scotia were worth $791,299,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Maseco LLP acquired a new position in Bank of Nova Scotia during the first quarter valued at approximately $30,000. Swiss RE Ltd. purchased a new position in shares of Bank of Nova Scotia in the 4th quarter valued at $30,000. Brown Brothers Harriman & Co. acquired a new position in shares of Bank of Nova Scotia during the 4th quarter valued at $34,000. Quarry LP acquired a new position in shares of Bank of Nova Scotia during the 3rd quarter valued at $35,000. Finally, CoreCap Advisors LLC boosted its position in Bank of Nova Scotia by 1,366.7% during the 2nd quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock worth $38,000 after purchasing an additional 410 shares during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Up 1.7%

Shares of NYSE BNS opened at $94.86 on Friday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.04 and a current ratio of 1.04. Bank of Nova Scotia has a 1 year low of $62.79 and a 1 year high of $95.34. The stock’s 50-day simple moving average is $88.66 and its 200-day simple moving average is $80.62. The firm has a market cap of $115.62 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.05 and a beta of 1.12.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Tuesday, August 25th. The bank reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.11. The firm had revenue of $7.52 billion for the quarter, compared to the consensus estimate of $7.11 billion. Bank of Nova Scotia had a net margin of 13.91% and a return on equity of 16.12%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.84 EPS. As a group, equities analysts anticipate that Bank of Nova Scotia will post 6.19 earnings per share for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Tuesday, October 6th will be issued a $1.14 dividend. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $4.56 annualized dividend and a dividend yield of 4.8%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 58.05%.

Analyst Ratings Changes

BNS has been the topic of several research reports. National Bank Financial raised Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 26th. Weiss Ratings raised Bank of Nova Scotia from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday. Keefe, Bruyette & Woods assumed coverage on Bank of Nova Scotia in a research report on Friday, August 21st. They set an “outperform” rating on the stock. TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, August 25th. Finally, Royal Bank Of Canada increased their price objective on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $117.00.

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.