Manitou Investment Management Ltd. Has $502,000 Holdings in Bank of Nova Scotia (NYSE:BNS)

Manitou Investment Management Ltd. grew its stake in shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 2.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,838 shares of the bank’s stock after purchasing an additional 210 shares during the quarter. Bank of Nova Scotia makes up 0.1% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 29th largest position. Manitou Investment Management Ltd.’s holdings in Bank of Nova Scotia were worth $502,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Doyle Wealth Management acquired a new stake in Bank of Nova Scotia during the second quarter worth approximately $31,000. Mcmillion Capital Management Inc. acquired a new stake in shares of Bank of Nova Scotia in the second quarter valued at approximately $46,000. HM Payson & Co. acquired a new stake in shares of Bank of Nova Scotia in the second quarter valued at approximately $51,000. LifePlan Financial Group Inc raised its position in shares of Bank of Nova Scotia by 210.7% in the second quarter. LifePlan Financial Group Inc now owns 1,165 shares of the bank’s stock valued at $63,000 after buying an additional 790 shares in the last quarter. Finally, Lindbrook Capital LLC raised its position in shares of Bank of Nova Scotia by 91.8% in the third quarter. Lindbrook Capital LLC now owns 1,258 shares of the bank’s stock valued at $72,000 after buying an additional 602 shares in the last quarter. Hedge funds and other institutional investors own 46.05% of the company’s stock.

A number of research firms have recently weighed in on BNS. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating and lifted their price target for the company from $52.00 to $62.00 in a research report on Tuesday, September 24th. BMO Capital Markets dropped their price target on shares of Bank of Nova Scotia from $80.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, August 28th. ValuEngine downgraded shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Canaccord Genuity reiterated a “hold” rating on shares of Bank of Nova Scotia in a research report on Wednesday, August 28th. Finally, Zacks Investment Research downgraded shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $74.29.

NYSE:BNS traded down $0.16 during mid-day trading on Friday, reaching $57.83. The stock had a trading volume of 388,051 shares, compared to its average volume of 780,411. The stock has a 50-day simple moving average of $57.04 and a two-hundred day simple moving average of $54.24. The stock has a market capitalization of $70.50 billion, a PE ratio of 10.63, a P/E/G ratio of 1.86 and a beta of 1.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.06 and a quick ratio of 1.06. Bank of Nova Scotia has a 12 month low of $48.34 and a 12 month high of $58.22.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, August 27th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.04. The business had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.86 billion. Bank of Nova Scotia had a net margin of 18.32% and a return on equity of 13.53%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the firm posted $1.76 earnings per share. Equities analysts expect that Bank of Nova Scotia will post 5.39 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Tuesday, October 1st were paid a $0.682 dividend. This represents a $2.73 dividend on an annualized basis and a yield of 4.72%. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.65. The ex-dividend date was Monday, September 30th. Bank of Nova Scotia’s dividend payout ratio (DPR) is 50.00%.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

Read More: What is the Quick Ratio?

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Institutional Ownership by Quarter for Bank of Nova Scotia (NYSE:BNS)

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