331,636 Shares in Bank of Nova Scotia (The) $BNS Acquired by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio acquired 331,636 Bank of Nova Scotia shares valued at approximately $28.8 million in the second quarter. Institutional investors collectively own 49.13% of the company.
• Scotiabank reported quarterly revenue of $7.24 billion and EPS of $1.47, exceeding analyst estimates, while revenue increased 8.3% year over year.
• The bank declared a quarterly dividend of $1.14 per share, representing a 4.9% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $117.

Public Employees Retirement System of Ohio acquired a new position in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 331,636 shares of the bank's stock, valued at approximately $28,767,000.

A number of other institutional investors also recently bought and sold shares of BNS. Maseco LLP bought a new position in shares of Bank of Nova Scotia in the first quarter worth approximately $30,000. Swiss RE Ltd. bought a new stake in shares of Bank of Nova Scotia during the 4th quarter valued at $30,000. Brown Brothers Harriman & Co. bought a new stake in shares of Bank of Nova Scotia during the 4th quarter valued at $34,000. Quarry LP purchased a new position in shares of Bank of Nova Scotia during the 3rd quarter valued at $35,000. Finally, CoreCap Advisors LLC boosted its holdings in Bank of Nova Scotia by 1,366.7% in the 2nd quarter. CoreCap Advisors LLC now owns 440 shares of the bank's stock worth $38,000 after buying an additional 410 shares during the period. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Stock Performance

Bank of Nova Scotia stock opened at $92.35 on Friday. The company has a 50 day moving average price of $88.14 and a 200-day moving average price of $80.15. The company has a market capitalization of $112.56 billion, a PE ratio of 16.71, a P/E/G ratio of 1.06 and a beta of 1.11. Bank of Nova Scotia has a fifty-two week low of $61.69 and a fifty-two week high of $94.96. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.04 and a current ratio of 1.04.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last issued its earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.05. Bank of Nova Scotia had a return on equity of 16.12% and a net margin of 13.91%.The business had revenue of $7.24 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same period in the previous year, the company posted $1.52 EPS. Bank of Nova Scotia's revenue was up 8.3% on a year-over-year basis. As a group, equities analysts forecast that Bank of Nova Scotia will post 6.08 earnings per share for the current year.

Bank of Nova Scotia Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Tuesday, October 6th will be issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 4.9%. The ex-dividend date is Tuesday, October 6th. Bank of Nova Scotia's dividend payout ratio is presently 58.05%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. TD Securities upgraded Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday. 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 report on Thursday, May 28th. Weiss Ratings downgraded Bank of Nova Scotia from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Tuesday, August 18th. Keefe, Bruyette & Woods initiated coverage on shares of Bank of Nova Scotia in a report on Friday, August 21st. They set an "outperform" rating for the company. Finally, National Bank Financial upgraded shares of Bank of Nova Scotia from a "sector perform" rating to an "outperform" rating in a research report on Wednesday. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $117.00.

About Bank of Nova Scotia

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.

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