Bank of Nova Scotia (The) $BNS Shares Purchased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in Bank of Nova Scotia by 3.3% in Q3 to 5,717,878 shares (about 0.46% ownership), worth roughly $369.7 million.
• Scotiabank beat expectations in its most recent quarter with EPS $1.48 vs. $1.42 estimate and revenue of $7.40 billion (up 2.9% y/y); analysts have a consensus "Hold" rating with an average target of $106.
• Institutional investors own about 49.13% of the stock; the company has a market cap of $89.93 billion and a P/E of 15.17, with a 12‑month range of $44.09–$78.28.

Dimensional Fund Advisors LP raised its position in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,717,878 shares of the bank's stock after acquiring an additional 183,789 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.46% of Bank of Nova Scotia worth $369,664,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mondrian Investment Partners LTD purchased a new stake in shares of Bank of Nova Scotia during the 3rd quarter worth $30,000. Cypress Capital Management LLC WY acquired a new stake in Bank of Nova Scotia in the second quarter valued at $33,000. Smartleaf Asset Management LLC lifted its holdings in Bank of Nova Scotia by 3,304.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 783 shares of the bank's stock worth $51,000 after buying an additional 760 shares during the last quarter. VSM Wealth Advisory LLC acquired a new position in shares of Bank of Nova Scotia during the 2nd quarter worth about $55,000. Finally, Toth Financial Advisory Corp purchased a new position in shares of Bank of Nova Scotia in the 3rd quarter valued at about $67,000. Institutional investors and hedge funds own 49.13% of the company's stock.

Bank of Nova Scotia Stock Performance

Shares of BNS opened at $72.95 on Friday. The company's 50 day simple moving average is $74.78 and its 200-day simple moving average is $68.99. The firm has a market cap of $89.93 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 0.90 and a beta of 1.10. Bank of Nova Scotia has a 12-month low of $44.09 and a 12-month high of $78.28. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last issued its quarterly earnings results on Tuesday, February 24th. The bank reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.06. Bank of Nova Scotia had a net margin of 12.40% and a return on equity of 12.49%. The firm had revenue of $7.40 billion during the quarter, compared to analysts' expectations of $6.99 billion. During the same quarter in the prior year, the business earned $1.76 EPS. Bank of Nova Scotia's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BNS shares. TD Securities restated a "hold" rating on shares of Bank of Nova Scotia in a research note on Tuesday. Weiss Ratings raised shares of Bank of Nova Scotia from a "hold (c+)" rating to a "buy (b)" rating in a report on Wednesday, February 25th. Royal Bank Of Canada upped their target price on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the company a "sector perform" rating in a report on Wednesday, February 25th. Finally, Raymond James Financial initiated coverage on shares of Bank of Nova Scotia in a research note on Tuesday, November 25th. They set an "outperform" rating on the stock. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Bank of Nova Scotia has a consensus rating of "Hold" and an average target price of $106.00.

Bank of Nova Scotia Profile

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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