Bank of Nova Scotia (The) (NYSE:BNS) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board decreased its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 15.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,948,274 shares of the bank’s stock after selling 364,200 shares during the quarter. Canada Pension Plan Investment Board owned about 0.16% of Bank of Nova Scotia (The) worth $124,936,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TD Asset Management Inc. grew its stake in Bank of Nova Scotia (The) by 1.4% in the second quarter. TD Asset Management Inc. now owns 38,272,386 shares of the bank’s stock valued at $2,298,937,000 after purchasing an additional 522,845 shares in the last quarter. Vanguard Group Inc. grew its position in Bank of Nova Scotia (The) by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 26,994,461 shares of the bank’s stock worth $1,623,177,000 after acquiring an additional 1,105,865 shares during the last quarter. CIBC Asset Management Inc grew its position in Bank of Nova Scotia (The) by 7.2% during the 2nd quarter. CIBC Asset Management Inc now owns 12,482,899 shares of the bank’s stock worth $750,050,000 after acquiring an additional 834,837 shares during the last quarter. Scotia Capital Inc. grew its position in shares of Bank of Nova Scotia (The) by 6.8% in the 2nd quarter. Scotia Capital Inc. now owns 7,806,955 shares of the bank’s stock valued at $469,356,000 after buying an additional 496,634 shares during the last quarter. Finally, Fiera Capital Corp lifted its stake in shares of Bank of Nova Scotia (The) by 4.7% in the 2nd quarter. Fiera Capital Corp now owns 6,396,251 shares of the bank’s stock valued at $384,090,000 after purchasing an additional 285,209 shares during the period. Institutional investors and hedge funds own 46.47% of the company’s stock.

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Bank of Nova Scotia (NYSE:BNS) traded down $0.35 during mid-day trading on Friday, reaching $65.59. The company had a trading volume of 294,000 shares, compared to its average volume of 703,106. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $79,009.91, a P/E ratio of 13.46, a P/E/G ratio of 1.53 and a beta of 1.28. Bank of Nova Scotia has a fifty-two week low of $51.21 and a fifty-two week high of $65.99.

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last released its earnings results on Tuesday, August 29th. The bank reported $1.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by ($0.38). Bank of Nova Scotia (The) had a net margin of 22.26% and a return on equity of 14.54%. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the business posted $1.54 earnings per share. equities analysts predict that Bank of Nova Scotia will post 5.22 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Tuesday, October 3rd were issued a dividend of $0.6294 per share. This represents a $2.52 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Monday, October 2nd. This is a boost from Bank of Nova Scotia (The)’s previous quarterly dividend of $0.56. Bank of Nova Scotia (The)’s payout ratio is 50.62%.

Several analysts have recently commented on BNS shares. Zacks Investment Research downgraded Bank of Nova Scotia (The) from a “hold” rating to a “sell” rating in a research note on Wednesday. Macquarie initiated coverage on shares of Bank of Nova Scotia (The) in a research note on Tuesday, October 24th. They set an “outperform” rating for the company. Citigroup Inc. upgraded shares of Bank of Nova Scotia (The) from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 20th. Scotiabank restated a “buy” rating and set a $88.00 price objective on shares of Bank of Nova Scotia (The) in a research note on Wednesday, August 30th. Finally, Canaccord Genuity set a $87.00 price objective on Bank of Nova Scotia (The) and gave the stock a “buy” rating in a report on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $83.20.

About Bank of Nova Scotia (The)

The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

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

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