Scientech Research LLC Invests $335,000 in The Bank of Nova Scotia (NYSE:BNS)

Scientech Research LLC acquired a new stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,321 shares of the bank’s stock, valued at approximately $335,000.

Several other institutional investors have also modified their holdings of the business. Legal & General Group Plc lifted its holdings in shares of Bank of Nova Scotia by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 9,281,724 shares of the bank’s stock valued at $424,497,000 after purchasing an additional 57,796 shares in the last quarter. Lighthouse Investment Partners LLC lifted its holdings in shares of Bank of Nova Scotia by 212.7% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 13,003 shares of the bank’s stock valued at $595,000 after purchasing an additional 8,845 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Bank of Nova Scotia by 4.7% during the 2nd quarter. Mackenzie Financial Corp now owns 15,091,880 shares of the bank’s stock valued at $690,438,000 after purchasing an additional 683,946 shares in the last quarter. APG Asset Management N.V. lifted its holdings in shares of Bank of Nova Scotia by 211.0% during the 2nd quarter. APG Asset Management N.V. now owns 139,671 shares of the bank’s stock valued at $5,960,000 after purchasing an additional 94,759 shares in the last quarter. Finally, AQR Capital Management LLC bought a new stake in Bank of Nova Scotia in the 2nd quarter valued at approximately $230,000. Institutional investors own 49.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th. UBS Group assumed coverage on Bank of Nova Scotia in a research note on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $69.00.

Bank of Nova Scotia Trading Up 0.1 %

Shares of Bank of Nova Scotia stock opened at $54.49 on Tuesday. The Bank of Nova Scotia has a 12-month low of $39.79 and a 12-month high of $55.12. The stock has a market cap of $67.00 billion, a P/E ratio of 12.27, a P/E/G 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 business’s 50 day moving average is $49.15 and its 200-day moving average is $48.13.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.01. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The company had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter in the prior year, the business posted $1.30 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict that The Bank of Nova Scotia will post 4.8 earnings per share for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

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

Bank of Nova Scotia Company 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.