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?
Want to see what other hedge funds are holding BNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of Nova Scotia (NYSE:BNS) (TSE:BNS).
Receive News & Ratings for Bank of Nova Scotia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Nova Scotia and related companies with MarketBeat.com's FREE daily email newsletter.