236,202 Shares in Bank of Nova Scotia (The) $BNS Purchased by Nykredit A S

Key Points

• Nykredit A S purchased 236,202 Bank of Nova Scotia shares during the second quarter, valued at approximately $20.5 million. Institutional investors collectively own 49.13% of the bank.
• Scotiabank reported quarterly EPS of $1.64, exceeding estimates of $1.53, while revenue rose 11.1% year over year to $7.52 billion.
• The bank declared a quarterly dividend of $1.14, equivalent to $4.56 annually and a 4.8% yield. Analysts hold a consensus “Moderate Buy” rating with an average price target of $117.

Nykredit A S bought a new stake in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 236,202 shares of the bank's stock, valued at approximately $20,523,000.

Several other institutional investors have also recently bought and sold shares of the company. PensionDanmark Pensionsforsikringsaktieselskab boosted its holdings in Bank of Nova Scotia by 9.3% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 178,226 shares of the bank's stock worth $15,460,000 after purchasing an additional 15,100 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Bank of Nova Scotia in the 4th quarter valued at $66,527,000. OMERS ADMINISTRATION Corp bought a new stake in Bank of Nova Scotia during the 2nd quarter worth about $142,985,000. PDT Partners LLC bought a new stake in Bank of Nova Scotia during the 2nd quarter worth about $5,254,000. Finally, Wellington Management Group LLP acquired a new position in shares of Bank of Nova Scotia during the 2nd quarter worth about $354,379,000. Institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Stock Performance

Shares of BNS opened at $94.11 on Friday. The company has a market cap of $114.51 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.06 and a beta of 1.12. The firm has a 50-day moving average of $90.20 and a 200-day moving average of $81.91. Bank of Nova Scotia has a one year low of $62.98 and a one year high of $95.34. 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 - Get Free Report) TSE: BNS last issued its earnings results on Tuesday, August 25th. The bank reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.53 by $0.11. Bank of Nova Scotia had a net margin of 13.91% and a return on equity of 16.12%. The company had revenue of $7.52 billion for the quarter, compared to analysts' expectations of $7.11 billion. During the same period in the prior year, the firm earned $1.84 EPS. Bank of Nova Scotia's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts forecast that Bank of Nova Scotia will post 6.19 earnings per share for the current year.

Bank of Nova Scotia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Tuesday, October 6th will be paid a $1.14 dividend. The ex-dividend date is Tuesday, October 6th. This represents a $4.56 annualized dividend and a yield of 4.8%. Bank of Nova Scotia's dividend payout ratio is currently 58.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. National Bank Financial upgraded Bank of Nova Scotia from a "sector perform" rating to an "outperform" rating in a report on Wednesday, August 26th. Weiss Ratings upgraded Bank of Nova Scotia from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, September 1st. TD Securities raised Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday, August 25th. Keefe, Bruyette & Woods began coverage on Bank of Nova Scotia in a research note on Friday, August 21st. They issued an "outperform" rating for the company. Finally, Royal Bank Of Canada boosted their price target on Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $117.00.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia, operating as Scotiabank, is a Canadian financial institution headquartered in Toronto, Ontario. Founded in Halifax in 1832, the bank provides banking and financial services to individuals, businesses, institutions and governments.

Scotiabank's principal activities include Canadian personal and commercial banking, international banking, global wealth management, and global banking and markets. Its products and services include deposit accounts, mortgages, consumer and commercial loans, credit cards, investment products, financial planning, asset management, foreign exchange, capital markets services and corporate banking.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.