Sei Investments Co. Purchases 98,467 Shares of Bank of Nova Scotia (The) (BNS)
Sei Investments Co. boosted its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 194.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 149,185 shares of the bank’s stock after acquiring an additional 98,467 shares during the period. Sei Investments Co.’s holdings in Bank of Nova Scotia (The) were worth $8,026,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Fiduciary Trust Co. bought a new position in Bank of Nova Scotia (The) in the second quarter valued at about $102,000. IFP Advisors Inc boosted its holdings in Bank of Nova Scotia (The) by 46.7% in the second quarter. IFP Advisors Inc now owns 2,077 shares of the bank’s stock valued at $125,000 after acquiring an additional 661 shares during the last quarter. ARP Americas LLC bought a new position in Bank of Nova Scotia (The) in the third quarter valued at about $202,000. Quantum Capital Management bought a new position in Bank of Nova Scotia (The) in the second quarter valued at about $205,000. Finally, Cetera Investment Advisers bought a new position in Bank of Nova Scotia (The) in the second quarter valued at about $207,000. Institutional investors and hedge funds own 46.75% of the company’s stock.
Several research firms recently issued reports on BNS. Zacks Investment Research cut Bank of Nova Scotia (The) from a “buy” rating to a “sell” rating in a report on Tuesday, October 31st. Citigroup Inc. upgraded Bank of Nova Scotia (The) from a “neutral” rating to a “buy” rating in a report on Wednesday, September 20th. BidaskClub cut Bank of Nova Scotia (The) from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Scotiabank reiterated a “buy” rating and issued a $88.00 price target on shares of Bank of Nova Scotia (The) in a report on Wednesday, August 30th. Finally, Canaccord Genuity set a $87.00 price target on Bank of Nova Scotia (The) and gave the company a “buy” rating in a report on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $83.20.
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Bank of Nova Scotia (NYSE:BNS) opened at $66.15 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.13. Bank of Nova Scotia has a 1-year low of $53.54 and a 1-year high of $66.78. The stock has a market capitalization of $78,866.12, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.55 and a beta of 1.28.
Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, August 29th. The bank reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.38). Bank of Nova Scotia (The) had a return on equity of 14.54% and a net margin of 22.26%. The company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the business posted $1.54 EPS. sell-side analysts expect that Bank of Nova Scotia will post 5.16 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Tuesday, October 3rd were issued a dividend of $0.6294 per share. The ex-dividend date of this dividend was Monday, October 2nd. This represents a $2.52 dividend on an annualized basis and a yield of 3.81%. This is a boost from Bank of Nova Scotia (The)’s previous quarterly dividend of $0.56. Bank of Nova Scotia (The)’s dividend payout ratio (DPR) is 50.62%.
About Bank of Nova Scotia (The)
The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.
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