K.J. Harrison & Partners Inc Has $8.05 Million Stock Position in Bank of Nova Scotia (The) $BNS

K.J. Harrison & Partners Inc raised its stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 100.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,615 shares of the bank’s stock after acquiring an additional 61,985 shares during the quarter. Bank of Nova Scotia comprises 1.2% of K.J. Harrison & Partners Inc’s holdings, making the stock its 16th largest position. K.J. Harrison & Partners Inc’s holdings in Bank of Nova Scotia were worth $8,045,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of BNS. Bank of New York Mellon Corp increased its stake in shares of Bank of Nova Scotia by 3.8% during the second quarter. Bank of New York Mellon Corp now owns 1,200,107 shares of the bank’s stock worth $66,330,000 after purchasing an additional 44,316 shares during the period. AGF Management Ltd. acquired a new position in Bank of Nova Scotia in the 2nd quarter valued at $21,803,000. Scheer Rowlett & Associates Investment Management Ltd. grew its holdings in Bank of Nova Scotia by 2.9% in the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,188,376 shares of the bank’s stock valued at $65,755,000 after buying an additional 33,800 shares in the last quarter. Public Sector Pension Investment Board increased its position in Bank of Nova Scotia by 1,073.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 1,410,536 shares of the bank’s stock worth $77,840,000 after buying an additional 1,290,300 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Bank of Nova Scotia by 315.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,873,828 shares of the bank’s stock worth $159,014,000 after buying an additional 2,181,312 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Bank of Nova Scotia

Here are the key news stories impacting Bank of Nova Scotia this week:

• Positive Sentiment: Sharp decline in short interest — Short interest fell ~27.9% month-over-month to 5.42M shares (0.4% of float) with a days-to-cover of ~3.2, which can reduce downward pressure from short sellers and supports near-term positioning.
• Positive Sentiment: Analyst price-target bump — Royal Bank of Canada raised its target from $97 to $106 (sector perform), implying material upside vs. the current price; analyst optimism can lift sentiment and attract buyers. RBC raises PT
• Positive Sentiment: Reported quarter showed revenue strength and margin/ROE improvement — Company filings and summaries show ~ $7.40B revenue and improvements in ROE/net margin; some outlets report an EPS beat vs. consensus, which supports the fundamental case. Quarterly results
• Neutral Sentiment: Earnings call details / transcript — The full Q1 call and slide deck provide color on NIMs, credit trends and guidance; investors should review management’s commentary for sustainability of trends. Earnings call transcript
• Neutral Sentiment: Mixed reporting on EPS — Different outlets have reported slightly different EPS figures (some noting a small beat, others a miss); this discrepancy has created some short-term noise while investors parse GAAP vs. adjusted figures. Earnings presentation
• Negative Sentiment: Valuation concerns — Independent analysis flags that forward P/E and P/B are meaningfully above cyclical averages (~23% above), and that the ~4.3% dividend offers limited protection if macro or credit conditions deteriorate; stretched multiples could cap further upside. Valuation analysis

Bank of Nova Scotia Stock Performance

BNS opened at $75.88 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.04 and a current ratio of 1.04. Bank of Nova Scotia has a 52-week low of $44.09 and a 52-week high of $78.28. The firm has a market cap of $93.54 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 1.01 and a beta of 1.11. The business’s fifty day moving average is $74.59 and its 200-day moving average is $68.31.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Tuesday, February 24th. The bank reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.06. The business had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $6.99 billion. Bank of Nova Scotia had a net margin of 12.40% and a return on equity of 12.60%. Bank of Nova Scotia’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.76 earnings per share. Sell-side analysts expect that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 7th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, April 7th. This represents a $4.40 annualized dividend and a dividend yield of 5.8%. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 79.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BNS shares. Royal Bank Of Canada boosted their target price on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the company a “sector perform” rating in a research report on Wednesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bank of Nova Scotia in a research note on Monday, December 29th. Finally, Raymond James Financial initiated coverage on shares of Bank of Nova Scotia in a research report on Tuesday, November 25th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $106.00.

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.