Mitsubishi UFJ Trust & Banking Corp Acquires 27,933 Shares of Bank of Nova Scotia (The) $BNS

Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 109.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,341 shares of the bank’s stock after buying an additional 27,933 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Bank of Nova Scotia were worth $3,449,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of BNS. Cypress Capital Management LLC WY purchased a new stake in Bank of Nova Scotia during the 2nd quarter valued at about $33,000. VSM Wealth Advisory LLC purchased a new position in Bank of Nova Scotia in the 2nd quarter worth approximately $55,000. Toth Financial Advisory Corp bought a new stake in Bank of Nova Scotia in the third quarter valued at approximately $67,000. MAI Capital Management boosted its stake in shares of Bank of Nova Scotia by 27.4% during the second quarter. MAI Capital Management now owns 1,543 shares of the bank’s stock valued at $85,000 after purchasing an additional 332 shares during the period. Finally, City State Bank grew its holdings in shares of Bank of Nova Scotia by 56.9% in the third quarter. City State Bank now owns 1,655 shares of the bank’s stock worth $107,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Up 1.6%

Shares of NYSE BNS opened at $76.43 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.70. Bank of Nova Scotia has a 12 month low of $44.09 and a 12 month high of $76.56. The firm has a market capitalization of $94.37 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. The firm has a fifty day simple moving average of $72.49 and a two-hundred day simple moving average of $65.54.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Tuesday, December 2nd. The bank reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.06. Bank of Nova Scotia had a net margin of 10.60% and a return on equity of 12.10%. The company had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $6.85 billion. During the same quarter in the previous year, the company earned $1.57 earnings per share. Bank of Nova Scotia’s quarterly revenue was up 15.0% on a year-over-year basis. Equities analysts expect that Bank of Nova Scotia will post 4.91 earnings per share for the current year.

Bank of Nova Scotia Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Tuesday, January 6th were given a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, January 6th. This represents a $4.40 annualized dividend and a dividend yield of 5.8%. Bank of Nova Scotia’s dividend payout ratio is currently 79.85%.

Wall Street Analyst Weigh In

A number of research firms recently commented on BNS. Royal Bank Of Canada upped their price target on shares of Bank of Nova Scotia from $86.00 to $97.00 and gave the company a “sector perform” rating in a report on Wednesday, December 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Bank of Nova Scotia in a research report on Monday, December 29th. Finally, Raymond James Financial began coverage on shares of Bank of Nova Scotia in a research note on Tuesday, November 25th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Hold” and an average target price of $97.00.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.