Bank of Nova Scotia (The) $BNS Shares Purchased by Addenda Capital Inc.

Addenda Capital Inc. raised its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 13.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,094,330 shares of the bank’s stock after buying an additional 126,409 shares during the period. Bank of Nova Scotia comprises about 2.6% of Addenda Capital Inc.’s holdings, making the stock its 9th largest position. Addenda Capital Inc. owned 0.09% of Bank of Nova Scotia worth $70,748,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its holdings in Bank of Nova Scotia by 3.8% in the 2nd 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 in the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of Bank of Nova Scotia by 1,439.7% during the second quarter. Y Intercept Hong Kong Ltd now owns 108,750 shares of the bank’s stock worth $6,011,000 after acquiring an additional 101,687 shares during the last quarter. AGF Management Ltd. purchased a new stake in shares of Bank of Nova Scotia during the second quarter worth about $21,803,000. Scheer Rowlett & Associates Investment Management Ltd. lifted its stake in shares of Bank of Nova Scotia by 2.9% in the second 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 in the last quarter. Finally, Ritholtz Wealth Management boosted its holdings in Bank of Nova Scotia by 261.9% in the second quarter. Ritholtz Wealth Management now owns 15,811 shares of the bank’s stock valued at $874,000 after purchasing an additional 11,442 shares during the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BNS has been the topic of a number of recent analyst reports. Wall Street Zen raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bank of Nova Scotia in a report on Monday. Raymond James Financial started coverage on shares of Bank of Nova Scotia in a research note on Tuesday, November 25th. They set an “outperform” rating on the stock. Finally, Royal Bank Of Canada boosted their target price on shares of Bank of Nova Scotia from $86.00 to $97.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $97.00.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $72.05 on Friday. The company has a market cap of $89.06 billion, a P/E ratio of 17.92, a PEG ratio of 0.93 and a beta of 1.13. The business has a 50 day moving average of $67.58 and a two-hundred day moving average of $61.52. Bank of Nova Scotia has a 52 week low of $44.09 and a 52 week high of $73.38. 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) (TSE:BNS) last released its quarterly earnings results on Tuesday, December 2nd. The bank reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. Bank of Nova Scotia had a return on equity of 12.10% and a net margin of 10.60%.The company 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 company posted $1.57 earnings per share. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, analysts anticipate that Bank of Nova Scotia will post 4.91 EPS for the current year.

Bank of Nova Scotia Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Tuesday, January 6th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Tuesday, January 6th. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 78.11%.

Bank of Nova Scotia Company Profile

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 through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.