The Bank of Nova Scotia (NYSE:BNS) Position Lessened by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lowered its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 35.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,410,966 shares of the bank’s stock after selling 5,152,371 shares during the quarter. Bank of Nova Scotia makes up approximately 1.2% of Healthcare of Ontario Pension Plan Trust Fund’s holdings, making the stock its 12th biggest position. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Bank of Nova Scotia were worth $430,542,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Mather Group LLC. increased its position 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 worth $25,000 after buying an additional 500 shares during the last quarter. Blue Trust Inc. raised its stake 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 valued at $27,000 after acquiring an additional 563 shares in the last quarter. Bruce G. Allen Investments LLC boosted its position in Bank of Nova Scotia by 70.6% during the first quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock worth $30,000 after purchasing an additional 242 shares during the period. Headlands Technologies LLC acquired a new position in Bank of Nova Scotia during the first quarter valued at approximately $53,000. Finally, Galibier Capital Management Ltd. bought a new position in shares of Bank of Nova Scotia in the first quarter valued at approximately $76,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Bank of Nova Scotia Price Performance

NYSE:BNS opened at $54.49 on Wednesday. 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 Bank of Nova Scotia has a one year low of $39.79 and a one year high of $55.12. The company has a fifty day moving average price of $49.32 and a 200 day moving average price of $48.16. The stock has a market cap of $67.00 billion, a P/E ratio of 12.27, a PEG ratio of 1.71 and a beta of 1.04.

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 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 business had revenue of $8.36 billion for the quarter, compared to the consensus estimate of $8.53 billion. During the same period last year, the business earned $1.30 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts anticipate that The Bank of Nova Scotia will post 4.8 earnings per share for the current year.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.768 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $3.07 dividend on an annualized basis and a yield of 5.64%. 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.