111 Capital Invests $1.69 Million in Bank of Nova Scotia (The) $BNS

111 Capital acquired a new position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 26,116 shares of the bank’s stock, valued at approximately $1,688,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of Bank of Nova Scotia by 111.2% during the first quarter. AQR Capital Management LLC now owns 19,096 shares of the bank’s stock worth $911,000 after purchasing an additional 10,056 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Bank of Nova Scotia during the second quarter worth about $330,000. Envestnet Asset Management Inc. boosted its stake in Bank of Nova Scotia by 4.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 6,039 shares of the bank’s stock worth $334,000 after buying an additional 235 shares during the last quarter. K.J. Harrison & Partners Inc grew its holdings in Bank of Nova Scotia by 19.6% in the 2nd quarter. K.J. Harrison & Partners Inc now owns 61,630 shares of the bank’s stock valued at $3,402,000 after buying an additional 10,104 shares during the period. Finally, Bank of New York Mellon Corp grew 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 valued at $66,330,000 after buying an additional 44,316 shares during the period. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Down 1.3%

BNS opened at $75.76 on Monday. The firm’s 50 day moving average is $74.75 and its 200-day moving average is $68.67. Bank of Nova Scotia has a 52-week low of $44.09 and a 52-week high of $78.28. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $93.39 billion, a P/E ratio of 15.75, a P/E/G ratio of 0.92 and a beta of 1.10.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its earnings results on Tuesday, February 24th. The bank reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.06. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The business had revenue of $7.40 billion for the quarter, compared to analyst estimates of $6.99 billion. During the same period in the previous year, the company earned $1.76 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts expect that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 7th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Tuesday, April 7th. Bank of Nova Scotia’s dividend payout ratio is 66.74%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BNS. Weiss Ratings raised shares of Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday. Raymond James Financial began coverage on shares of Bank of Nova Scotia in a report on Tuesday, November 25th. They issued an “outperform” rating on the stock. Finally, Royal Bank Of Canada boosted their price objective on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Bank of Nova Scotia Company Profile

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.