APG Asset Management N.V. Grows Stake in The Bank of Nova Scotia (NYSE:BNS)

APG Asset Management N.V. lifted its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 211.0% during the second quarter, HoldingsChannel reports. The firm owned 139,671 shares of the bank’s stock after purchasing an additional 94,759 shares during the quarter. APG Asset Management N.V.’s holdings in Bank of Nova Scotia were worth $5,960,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BNS. Mather Group LLC. increased its stake in Bank of Nova Scotia by 1,388.9% during the second quarter. Mather Group LLC. now owns 536 shares of the bank’s stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Bank of Nova Scotia by 3,127.8% in the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock worth $27,000 after purchasing an additional 563 shares in the last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of Bank of Nova Scotia by 70.6% in the first quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock valued at $30,000 after buying an additional 242 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Bank of Nova Scotia during the 1st quarter worth $53,000. Finally, Galibier Capital Management Ltd. acquired a new stake in shares of Bank of Nova Scotia during the first quarter worth $76,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

Shares of BNS opened at $54.44 on Monday. The business’s 50-day moving average is $49.00 and its 200-day moving average is $48.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $66.94 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.71 and a beta of 1.04. The Bank of Nova Scotia has a fifty-two week low of $39.79 and a fifty-two 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.01. The company had revenue of $8.36 billion during the quarter, compared to the consensus estimate of $8.53 billion. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.30 EPS. Equities 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.768 per share. 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 presently 70.72%.

Analysts Set New Price Targets

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