Squarepoint Ops LLC Buys Shares of 80,305 Bank of Nova Scotia (The) $BNS

Squarepoint Ops LLC purchased a new stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 80,305 shares of the bank’s stock, valued at approximately $6,974,000.

Other institutional investors have also modified their holdings of the company. PensionDanmark Pensionsforsikringsaktieselskab grew its position in Bank of Nova Scotia by 9.3% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 178,226 shares of the bank’s stock worth $15,460,000 after purchasing an additional 15,100 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Bank of Nova Scotia during the fourth quarter valued at approximately $66,527,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Bank of Nova Scotia during the second quarter valued at approximately $142,985,000. Norges Bank acquired a new position in shares of Bank of Nova Scotia during the fourth quarter worth approximately $1,368,456,000. Finally, Wellington Management Group LLP acquired a new position in shares of Bank of Nova Scotia during the second quarter worth approximately $354,379,000. Institutional investors own 49.13% of the company’s stock.

Analyst Ratings Changes

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

Bank of Nova Scotia Stock Up 0.8%

Shares of BNS stock opened at $92.81 on Friday. Bank of Nova Scotia has a 1 year low of $62.98 and a 1 year high of $95.34. The stock has a market cap of $113.11 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 1.03 and a beta of 1.12. The business’s fifty day moving average is $89.31 and its 200-day moving average is $81.21. 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 (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, August 25th. The bank reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.11. The business had revenue of $7.52 billion during the quarter, compared to analyst estimates of $7.11 billion. Bank of Nova Scotia had a return on equity of 16.12% and a net margin of 13.91%.The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 earnings per share. Equities analysts expect that Bank of Nova Scotia will post 6.19 earnings per share for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders 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 yield of 4.9%. The ex-dividend date of this dividend is Tuesday, October 6th. Bank of Nova Scotia’s dividend payout ratio is presently 58.05%.

About Bank of Nova Scotia

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.