Bank of Nova Scotia (BNS) Stake Raised by Toronto Dominion Bank

Toronto Dominion Bank grew its stake in shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 37.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,945,499 shares of the bank’s stock after purchasing an additional 5,709,563 shares during the period. Bank of Nova Scotia makes up 2.4% of Toronto Dominion Bank’s investment portfolio, making the stock its 5th largest holding. Toronto Dominion Bank owned approximately 1.70% of Bank of Nova Scotia worth $1,199,742,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Arbitrage SA purchased a new position in Bank of Nova Scotia during the 2nd quarter valued at about $200,000. Nwam LLC lifted its position in Bank of Nova Scotia by 38.9% during the 2nd quarter. Nwam LLC now owns 5,235 shares of the bank’s stock valued at $300,000 after acquiring an additional 1,465 shares during the period. Coastline Trust Co lifted its position in Bank of Nova Scotia by 24.8% during the 2nd quarter. Coastline Trust Co now owns 6,800 shares of the bank’s stock valued at $390,000 after acquiring an additional 1,350 shares during the period. Alps Advisors Inc. purchased a new position in Bank of Nova Scotia during the 2nd quarter valued at about $470,000. Finally, LPL Financial LLC lifted its position in Bank of Nova Scotia by 65.5% during the 4th quarter. LPL Financial LLC now owns 8,180 shares of the bank’s stock valued at $528,000 after acquiring an additional 3,236 shares during the period. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE BNS opened at $58.25 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.10. Bank of Nova Scotia has a one year low of $55.85 and a one year high of $66.78. The stock has a market capitalization of $71.65 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.52 and a beta of 1.28.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, May 29th. The bank reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.04. Bank of Nova Scotia had a return on equity of 14.87% and a net margin of 22.29%. The firm had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.37 billion. equities research analysts anticipate that Bank of Nova Scotia will post 5.42 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 27th. Shareholders of record on Tuesday, July 3rd were paid a $0.6366 dividend. The ex-dividend date of this dividend was Monday, July 2nd. This represents a $2.55 dividend on an annualized basis and a yield of 4.37%. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 47.71%.

BNS has been the topic of a number of research analyst reports. Desjardins reiterated a “buy” rating on shares of Bank of Nova Scotia in a report on Friday, June 8th. Zacks Investment Research upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a report on Tuesday, May 1st. Bank of America downgraded Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a report on Tuesday, June 5th. Royal Bank of Canada downgraded Bank of Nova Scotia from an “outperform” rating to a “sector perform” rating in a report on Monday, June 11th. Finally, National Bank Financial downgraded Bank of Nova Scotia from an “outperform” rating to a “sector perform” rating in a report on Friday, June 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Bank of Nova Scotia presently has a consensus rating of “Hold” and an average target price of $85.67.

About Bank of Nova Scotia

The Bank of Nova Scotia provides various financial services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. It 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.

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

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