APG Asset Management N.V. Buys 94,759 Shares of The Bank of Nova Scotia (NYSE:BNS)

APG Asset Management N.V. raised its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 211.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 139,671 shares of the bank’s stock after acquiring an additional 94,759 shares during the period. APG Asset Management N.V.’s holdings in Bank of Nova Scotia were worth $5,960,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in Bank of Nova Scotia by 1.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,432 shares of the bank’s stock valued at $799,000 after buying an additional 219 shares during the period. Power Corp of Canada increased its holdings in Bank of Nova Scotia by 1.9% during the 4th quarter. Power Corp of Canada now owns 12,037 shares of the bank’s stock worth $587,000 after purchasing an additional 226 shares during the period. Bruce G. Allen Investments LLC raised its position in Bank of Nova Scotia by 70.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock valued at $30,000 after purchasing an additional 242 shares in the last quarter. Pacifica Partners Inc. lifted its holdings in shares of Bank of Nova Scotia by 1.5% in the 2nd quarter. Pacifica Partners Inc. now owns 19,493 shares of the bank’s stock worth $889,000 after buying an additional 288 shares during the period. Finally, Gold Investment Management Ltd. lifted its position in shares of Bank of Nova Scotia by 0.3% in the 1st quarter. Gold Investment Management Ltd. now owns 111,564 shares of the bank’s stock worth $5,773,000 after purchasing an additional 292 shares during the period. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Stock Down 0.7 %

NYSE:BNS opened at $54.44 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61. The Bank of Nova Scotia has a twelve month low of $39.79 and a twelve month high of $55.12. The company has a market cap of $66.94 billion, a PE ratio of 12.26, a P/E/G ratio of 1.71 and a beta of 1.04. The company’s 50 day moving average is $49.00 and its two-hundred day moving average is $48.09.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.01. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The firm had revenue of $8.36 billion for the quarter, compared to analyst estimates of $8.53 billion. During the same period in the previous year, the company earned $1.30 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. Analysts anticipate that The Bank of Nova Scotia will post 4.8 EPS for the current year.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd will be issued a $0.768 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $3.07 annualized dividend and a yield of 5.64%. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 70.72%.

Wall Street Analyst Weigh In

Several analysts have issued reports on BNS shares. Cibc World Mkts raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. UBS Group started coverage on shares of Bank of Nova Scotia in a report on Tuesday, July 2nd. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $69.00.

About Bank of Nova Scotia

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.