Bank of Nova Scotia (The) $BNS Position Increased by Plato Investment Management Ltd

Plato Investment Management Ltd raised its stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 56.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 26,033 shares of the bank’s stock after buying an additional 9,354 shares during the quarter. Plato Investment Management Ltd’s holdings in Bank of Nova Scotia were worth $1,671,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Cypress Capital Management LLC WY bought a new position in Bank of Nova Scotia in the 2nd quarter worth approximately $33,000. Smartleaf Asset Management LLC grew its stake in shares of Bank of Nova Scotia by 3,304.3% in the third quarter. Smartleaf Asset Management LLC now owns 783 shares of the bank’s stock worth $51,000 after purchasing an additional 760 shares in the last quarter. VSM Wealth Advisory LLC acquired a new position in shares of Bank of Nova Scotia during the second quarter valued at $55,000. Toth Financial Advisory Corp bought a new stake in shares of Bank of Nova Scotia during the third quarter valued at about $67,000. Finally, MAI Capital Management lifted its holdings in Bank of Nova Scotia by 27.4% in the second quarter. MAI Capital Management now owns 1,543 shares of the bank’s stock worth $85,000 after purchasing an additional 332 shares during the period. Institutional investors own 49.13% of the company’s stock.

Wall Street Analyst Weigh In

BNS has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bank of Nova Scotia in a research note on Monday, December 29th. Raymond James Financial assumed coverage on Bank of Nova Scotia in a research report on Tuesday, November 25th. They set an “outperform” rating on the stock. Finally, Royal Bank Of Canada upped their price objective on Bank of Nova Scotia from $86.00 to $97.00 and gave the company a “sector perform” rating in a report on Wednesday, December 3rd. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $97.00.

Bank of Nova Scotia Trading Up 1.4%

Shares of NYSE:BNS opened at $76.37 on Monday. The firm has a fifty day moving average of $73.36 and a two-hundred day moving average of $66.53. 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 has a 12-month low of $44.09 and a 12-month high of $76.56. The firm has a market capitalization of $94.29 billion, a P/E ratio of 19.00, a price-to-earnings-growth ratio of 1.00 and a beta of 1.11.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Tuesday, December 2nd. The bank reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.06. The business had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.85 billion. Bank of Nova Scotia had a return on equity of 12.10% and a net margin of 10.60%.During the same period in the previous year, the company earned $1.57 EPS. The firm’s revenue was up 15.0% on a year-over-year basis. On average, equities analysts expect that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The firm also recently disclosed 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. This represents a $4.40 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Tuesday, January 6th. Bank of Nova Scotia’s payout ratio is currently 79.60%.

About Bank of Nova Scotia

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.