Bank of Nova Scotia (The) $BNS Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP lowered its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 6.2% in the third quarter, HoldingsChannel reports. The firm owned 1,941,676 shares of the bank’s stock after selling 127,563 shares during the quarter. Bank of Nova Scotia makes up approximately 1.4% of Artemis Investment Management LLP’s holdings, making the stock its 13th biggest holding. Artemis Investment Management LLP’s holdings in Bank of Nova Scotia were worth $176,572,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. PensionDanmark Pensionsforsikringsaktieselskab raised its stake in Bank of Nova Scotia by 9.3% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 178,226 shares of the bank’s stock worth $15,460,000 after acquiring an additional 15,100 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Bank of Nova Scotia during the second quarter worth about $6,974,000. Wellington Management Group LLP acquired a new position in Bank of Nova Scotia in the 2nd quarter valued at about $354,379,000. Bank of America Corp DE purchased a new stake in Bank of Nova Scotia during the 2nd quarter valued at approximately $224,782,000. Finally, Cidel Asset Management Inc. raised its stake in Bank of Nova Scotia by 119.1% during the 2nd quarter. Cidel Asset Management Inc. now owns 353,888 shares of the bank’s stock valued at $30,748,000 after acquiring an additional 192,388 shares during the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Stock Performance

Shares of BNS stock traded up $0.81 during trading hours on Thursday, reaching $88.04. 494,014 shares of the company’s stock were exchanged, compared to its average volume of 2,354,157. The company has a market cap of $107.13 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14. The company’s 50 day moving average is $91.20 and its two-hundred day moving average is $83.85. Bank of Nova Scotia has a 1 year low of $62.98 and a 1 year high of $95.74. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.04 and a quick ratio of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Tuesday, August 25th. The bank reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.11. The firm had revenue of $7.52 billion for the quarter, compared to the consensus estimate of $7.11 billion. Bank of Nova Scotia had a return on equity of 16.12% and a net margin of 13.91%.The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.84 earnings per share. Equities research analysts anticipate that Bank of Nova Scotia will post 6.19 EPS for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Tuesday, October 6th will be given a dividend of C$1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Tuesday, October 6th. Bank of Nova Scotia’s payout ratio is presently 59.49%.

Analyst Upgrades and Downgrades

BNS has been the topic of several analyst reports. Keefe, Bruyette & Woods assumed coverage on Bank of Nova Scotia in a research note on Friday, August 21st. They issued an “outperform” rating on the stock. National Bank Financial raised Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a report on Wednesday, August 26th. Weiss Ratings raised shares of Bank of Nova Scotia from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, September 1st. Finally, TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $117.00.

Bank of Nova Scotia Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian financial services company headquartered in Toronto, Ontario. Founded in 1832, it is one of Canada’s largest banks and provides a broad range of banking and financial services to individuals, businesses, institutions and governments.

Scotiabank’s principal activities include Canadian personal and commercial banking, wealth management, and global banking and markets. Its products and services include deposit accounts, residential mortgages, consumer and business loans, credit cards, investment and advisory services, foreign exchange, capital markets and corporate finance.

The bank serves customers across Canada and maintains international operations, particularly in Mexico, Peru, Chile and selected markets in the Caribbean and Central America.