Intech Investment Management LLC Has $6.94 Million Stake in The Bank of Nova Scotia (NYSE:BNS)

Intech Investment Management LLC trimmed its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 14.1% in the third quarter, Holdings Channel reports. The institutional investor owned 127,216 shares of the bank’s stock after selling 20,894 shares during the period. Intech Investment Management LLC’s holdings in Bank of Nova Scotia were worth $6,939,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sigma Planning Corp increased its holdings in shares of Bank of Nova Scotia by 1.9% during the third quarter. Sigma Planning Corp now owns 11,089 shares of the bank’s stock worth $604,000 after buying an additional 210 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Bank of Nova Scotia by 1.2% during the third quarter. Signaturefd LLC now owns 18,470 shares of the bank’s stock worth $1,006,000 after buying an additional 216 shares in the last quarter. Addison Advisors LLC increased its holdings in shares of Bank of Nova Scotia by 7.3% during the third quarter. Addison Advisors LLC now owns 3,357 shares of the bank’s stock worth $183,000 after buying an additional 227 shares in the last quarter. Pacifica Partners Inc. increased its holdings in shares of Bank of Nova Scotia by 1.5% during the second quarter. Pacifica Partners Inc. now owns 19,493 shares of the bank’s stock worth $889,000 after buying an additional 288 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Bank of Nova Scotia by 11.9% during the third quarter. Farther Finance Advisors LLC now owns 2,713 shares of the bank’s stock worth $148,000 after buying an additional 288 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Performance

Shares of BNS opened at $56.29 on Friday. 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 stock has a market capitalization of $70.05 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05. The firm’s fifty day simple moving average is $53.33 and its two-hundred day simple moving average is $49.34. The Bank of Nova Scotia has a 12 month low of $41.80 and a 12 month high of $56.71.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.01. The business had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.53 billion. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 earnings per share. As a group, analysts predict that The Bank of Nova Scotia will post 4.75 EPS for the current year.

Bank of Nova Scotia Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd were given a dividend of $0.768 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $3.07 dividend on an annualized basis and a yield of 5.46%. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 74.88%.

Analyst Ratings Changes

BNS has been the subject of several research analyst reports. UBS Group upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Monday. Cibc World Mkts upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday. Finally, Barclays raised shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

Bank of Nova Scotia 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.