Tyers Asset Management LLC Increases Stake in Bank of Nova Scotia (NYSE:BNS)
Tyers Asset Management LLC increased its holdings in Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 17.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,340 shares of the bank’s stock after purchasing an additional 1,518 shares during the period. Tyers Asset Management LLC’s holdings in Bank of Nova Scotia were worth $534,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of BNS. Princeton Global Asset Management LLC bought a new stake in Bank of Nova Scotia during the 1st quarter valued at $34,000. Avestar Capital LLC increased its stake in shares of Bank of Nova Scotia by 630.8% in the 1st quarter. Avestar Capital LLC now owns 782 shares of the bank’s stock worth $39,000 after acquiring an additional 675 shares in the last quarter. Mcmillion Capital Management Inc. bought a new position in shares of Bank of Nova Scotia in the 2nd quarter worth about $46,000. LifePlan Financial Group Inc increased its stake in shares of Bank of Nova Scotia by 210.7% in the 2nd quarter. LifePlan Financial Group Inc now owns 1,165 shares of the bank’s stock worth $63,000 after acquiring an additional 790 shares in the last quarter. Finally, Belpointe Asset Management LLC purchased a new stake in Bank of Nova Scotia during the 1st quarter valued at about $101,000. Institutional investors own 45.66% of the company’s stock.
BNS has been the topic of several recent research reports. BMO Capital Markets lowered their price objective on shares of Bank of Nova Scotia from $80.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 28th. Barclays restated an “average” rating and set a $78.00 target price on shares of Bank of Nova Scotia in a research note on Thursday, May 30th. Credit Suisse Group lifted their price objective on shares of Bank of Nova Scotia from $73.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Zacks Investment Research cut shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Finally, Canaccord Genuity reissued a “hold” rating on shares of Bank of Nova Scotia in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Bank of Nova Scotia presently has an average rating of “Hold” and an average price target of $76.17.
Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, August 27th. The bank reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.04. The business had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.86 billion. Bank of Nova Scotia had a return on equity of 13.53% and a net margin of 18.32%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.76 EPS. On average, equities research analysts forecast that Bank of Nova Scotia will post 5.36 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Tuesday, October 1st will be paid a $0.682 dividend. The ex-dividend date is Monday, September 30th. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.65. This represents a $2.73 dividend on an annualized basis and a dividend yield of 4.81%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 48.90%.
Bank of Nova Scotia Company Profile
The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company 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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