DekaBank Deutsche Girozentrale Buys 86,581 Shares of The Bank of Nova Scotia (NYSE:BNS)

DekaBank Deutsche Girozentrale grew its stake in The Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) by 11.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 848,804 shares of the bank’s stock after acquiring an additional 86,581 shares during the period. DekaBank Deutsche Girozentrale owned 0.07% of Bank of Nova Scotia worth $61,182,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BNS. Mufg Securities Canada LTD. grew its position in shares of Bank of Nova Scotia by 109.9% during the 3rd quarter. Mufg Securities Canada LTD. now owns 11,848,905 shares of the bank’s stock worth $730,749,000 after buying an additional 6,203,008 shares during the period. Nicola Wealth Management LTD. grew its position in shares of Bank of Nova Scotia by 273.9% during the 3rd quarter. Nicola Wealth Management LTD. now owns 1,155,500 shares of the bank’s stock worth $70,703,000 after buying an additional 846,500 shares during the period. Marathon Asset Mgmt Ltd acquired a new stake in shares of Bank of Nova Scotia during the 3rd quarter worth approximately $47,193,000. Quadrature Capital Ltd acquired a new stake in shares of Bank of Nova Scotia during the 3rd quarter worth approximately $40,502,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Bank of Nova Scotia by 72.0% during the 3rd quarter. Goldman Sachs Group Inc. now owns 1,320,480 shares of the bank’s stock worth $81,249,000 after buying an additional 552,733 shares during the period. 47.03% of the stock is owned by institutional investors.

A number of brokerages have weighed in on BNS. Barclays lifted their price target on shares of Bank of Nova Scotia from C$97.00 to C$99.00 in a research note on Wednesday, March 2nd. TD Securities lowered shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research report on Thursday, March 10th. Zacks Investment Research raised shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Thursday, February 24th. StockNews.com began coverage on shares of Bank of Nova Scotia in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, BMO Capital Markets boosted their price objective on shares of Bank of Nova Scotia from C$93.00 to C$95.00 in a research report on Wednesday, March 2nd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $93.66.

Bank of Nova Scotia stock traded up $0.13 during trading hours on Friday, reaching $69.65. 989,467 shares of the stock were exchanged, compared to its average volume of 1,884,727. The company has a market cap of $83.82 billion, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 1.60 and a beta of 0.92. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The Bank of Nova Scotia has a twelve month low of $59.05 and a twelve month high of $74.86. The stock has a 50 day moving average of $72.50 and a two-hundred day moving average of $69.12.

Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) last announced its quarterly earnings data on Tuesday, March 1st. The bank reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.52. The firm had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.87 billion. Bank of Nova Scotia had a net margin of 25.54% and a return on equity of 15.22%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share. On average, analysts expect that The Bank of Nova Scotia will post 6.66 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 27th. Stockholders of record on Tuesday, April 5th will be issued a $0.7884 dividend. The ex-dividend date of this dividend is Monday, April 4th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.53%. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.78. Bank of Nova Scotia’s dividend payout ratio is 50.39%.

About Bank of Nova Scotia (Get Rating)

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.

Further Reading

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Institutional Ownership by Quarter for Bank of Nova Scotia (NYSE:BNS)

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