Harvest Portfolios Group Inc. Purchases 8,109 Shares of Bank of Nova Scotia (The) $BNS

Key Points

• Harvest Portfolios Group Inc. increased its stake in Bank of Nova Scotia by 14.8%, acquiring a total of 63,084 shares worth approximately $2.99 million as of their latest SEC filing.
• Bank of Nova Scotia recently announced a quarterly dividend of $1.10 per share, up from the previous $0.80, representing a 7.2% yield with a high payout ratio of 94.72%.
• Despite a year-over-year revenue increase of 8.8%, the bank reported earnings per share of $1.06 for the last quarter, falling short of analysts' expectations of $1.14.

Harvest Portfolios Group Inc. boosted its holdings in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 14.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 63,084 shares of the bank's stock after buying an additional 8,109 shares during the period. Harvest Portfolios Group Inc.'s holdings in Bank of Nova Scotia were worth $2,991,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Compagnie Lombard Odier SCmA purchased a new stake in Bank of Nova Scotia in the 1st quarter worth $52,000. Independence Bank of Kentucky increased its stake in Bank of Nova Scotia by 38.4% in the 1st quarter. Independence Bank of Kentucky now owns 1,175 shares of the bank's stock worth $56,000 after buying an additional 326 shares in the last quarter. SVB Wealth LLC bought a new position in shares of Bank of Nova Scotia during the 1st quarter valued at about $69,000. North Capital Inc. bought a new position in shares of Bank of Nova Scotia during the 1st quarter valued at about $81,000. Finally, Dunhill Financial LLC bought a new position in shares of Bank of Nova Scotia during the 4th quarter valued at about $95,000. Hedge funds and other institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Trading Up 0.1%

Shares of NYSE:BNS traded up $0.08 during trading on Monday, reaching $62.47. The company's stock had a trading volume of 2,087,974 shares, compared to its average volume of 1,720,716. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.66. Bank of Nova Scotia has a 12 month low of $44.09 and a 12 month high of $62.69. The firm's 50 day simple moving average is $56.20 and its two-hundred day simple moving average is $52.11. The stock has a market capitalization of $77.61 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 1.45 and a beta of 1.16.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its quarterly earnings results on Tuesday, August 26th. The bank reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. Bank of Nova Scotia had a net margin of 9.74% and a return on equity of 11.61%. The firm had revenue of $6.85 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter last year, the firm earned $1.63 EPS. The firm's revenue for the quarter was up 13.4% compared to the same quarter last year. On average, research analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BNS has been the subject of several research reports. Wall Street Zen raised shares of Bank of Nova Scotia from a "sell" rating to a "hold" rating in a report on Saturday. Royal Bank Of Canada increased their price objective on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $86.00.

About Bank of Nova Scotia

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.