Axa S.A. Grows Stock Position in The Bank of Nova Scotia (NYSE:BNS)

Axa S.A. increased its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 5.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 416,755 shares of the bank’s stock after acquiring an additional 19,734 shares during the period. Axa S.A.’s holdings in Bank of Nova Scotia were worth $19,054,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Bank of Nova Scotia in the 2nd quarter valued at about $120,463,000. 1832 Asset Management L.P. increased its position in shares of Bank of Nova Scotia by 16.1% during the first quarter. 1832 Asset Management L.P. now owns 17,015,877 shares of the bank’s stock valued at $881,082,000 after acquiring an additional 2,361,136 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Bank of Nova Scotia by 17.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,563,337 shares of the bank’s stock valued at $753,658,000 after acquiring an additional 2,178,633 shares during the period. Nicola Wealth Management LTD. acquired a new position in shares of Bank of Nova Scotia in the 1st quarter worth approximately $77,670,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Bank of Nova Scotia by 2,455.8% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,521,906 shares of the bank’s stock worth $69,627,000 after purchasing an additional 1,462,360 shares during the period. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock opened at $54.79 on Friday. The company’s 50 day moving average is $48.69 and its two-hundred day moving average is $48.04. The firm has a market cap of $67.79 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 1.71 and a beta of 1.04. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The Bank of Nova Scotia has a 52-week low of $39.79 and a 52-week high of $55.12.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its earnings results on Tuesday, August 27th. The bank reported $1.63 EPS for the quarter, topping the consensus estimate of $1.62 by $0.01. The firm had revenue of $8.36 billion during the quarter, compared to analysts’ expectations of $8.53 billion. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. Bank of Nova Scotia’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.30 EPS. On average, research analysts expect that The Bank of Nova Scotia will post 4.8 EPS for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.768 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $3.07 dividend on an annualized basis and a dividend yield of 5.61%. Bank of Nova Scotia’s payout ratio is 69.82%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BNS shares. UBS Group initiated coverage on Bank of Nova Scotia in a research report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.