First National Trust Co Acquires 15,676 Shares of Bank of Nova Scotia (The) $BNS

by · The Cerbat Gem

First National Trust Co lifted its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS – Free Report) (TSE:BNS) by 54.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 44,415 shares of the bank’s stock after purchasing an additional 15,676 shares during the period. First National Trust Co’s holdings in Bank of Nova Scotia were worth $2,871,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in BNS. Bank of New York Mellon Corp increased its holdings in shares of Bank of Nova Scotia by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 1,200,107 shares of the bank’s stock worth $66,330,000 after buying an additional 44,316 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in Bank of Nova Scotia by 1,439.7% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 108,750 shares of the bank’s stock valued at $6,011,000 after acquiring an additional 101,687 shares during the period. AGF Management Ltd. bought a new position in Bank of Nova Scotia during the 2nd quarter worth approximately $21,803,000. Scheer Rowlett & Associates Investment Management Ltd. grew its position in Bank of Nova Scotia by 2.9% during the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,188,376 shares of the bank’s stock worth $65,755,000 after acquiring an additional 33,800 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in Bank of Nova Scotia by 1,073.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,410,536 shares of the bank’s stock worth $77,840,000 after purchasing an additional 1,290,300 shares during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock opened at $77.78 on Wednesday. The business has a 50 day moving average of $73.68 and a 200 day moving average of $66.82. Bank of Nova Scotia has a 52 week low of $44.09 and a 52 week high of $78.21. The company has a market cap of $96.03 billion, a PE ratio of 19.35, a P/E/G ratio of 1.02 and a beta of 1.11. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.70.

Bank of Nova Scotia (NYSE:BNS – Get Free Report) (TSE:BNS) last released its quarterly earnings results on Tuesday, December 2nd. The bank reported $1.39 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $6.85 billion. During the same quarter in the previous year, the business posted $1.57 earnings per share. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, equities research analysts forecast 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 declared a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Tuesday, January 6th were given a dividend of $1.10 per share. The ex-dividend date was Tuesday, January 6th. This represents a $4.40 annualized dividend and a dividend yield of 5.7%. Bank of Nova Scotia’s payout ratio is currently 79.85%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BNS. Weiss Ratings reissued a “hold (c+)” rating on shares of Bank of Nova Scotia in a research note on Monday, December 29th. Raymond James Financial began coverage on shares of Bank of Nova Scotia in a report on Tuesday, November 25th. They set an “outperform” rating for the company. Finally, Royal Bank Of Canada increased their price target on shares of Bank of Nova Scotia from $86.00 to $97.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 3rd. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of “Hold” and an average price target of $97.00.

Check Out Our Latest Research Report on BNS

About Bank of Nova Scotia

(Free Report)

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.

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