BlackRock Inc. Invests $115.66 Million in Bank of Nova Scotia (The) $BNS

BlackRock Inc. bought a new stake in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,331,905 shares of the bank's stock, valued at approximately $115,663,000. BlackRock Inc. owned about 0.11% of Bank of Nova Scotia as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Maseco LLP acquired a new stake in shares of Bank of Nova Scotia in the 1st quarter worth $30,000. Swiss RE Ltd. acquired a new stake in Bank of Nova Scotia in the fourth quarter worth about $30,000. Brown Brothers Harriman & Co. acquired a new stake in Bank of Nova Scotia in the fourth quarter worth about $34,000. Quarry LP purchased a new stake in shares of Bank of Nova Scotia during the third quarter worth about $35,000. Finally, CoreCap Advisors LLC increased its holdings in shares of Bank of Nova Scotia by 1,366.7% during the second quarter. CoreCap Advisors LLC now owns 440 shares of the bank's stock valued at $38,000 after acquiring an additional 410 shares in the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Stock Performance

BNS opened at $92.35 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.98. Bank of Nova Scotia has a 12-month low of $61.69 and a 12-month high of $94.96. The firm has a 50 day moving average of $88.14 and a two-hundred day moving average of $80.15. The firm 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 (NYSE:BNS - Get Free Report) TSE: BNS last released its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, beating the consensus estimate of $1.42 by $0.05. The business had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $7.13 billion. Bank of Nova Scotia had a net margin of 13.91% and a return on equity of 16.12%. The business's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 EPS. On average, analysts anticipate that Bank of Nova Scotia will post 6.14 EPS for the current year.

Bank of Nova Scotia Dividend Announcement

The business 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 dividend of $1.14 per share. The ex-dividend date is Tuesday, October 6th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 4.9%. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 58.05%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank Of Canada increased their price objective on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the company a "sector perform" rating in a research report on Thursday, May 28th. Weiss Ratings lowered shares of 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 began coverage on shares of Bank of Nova Scotia in a report on Friday, August 21st. They issued an "outperform" rating for the company. National Bank Financial upgraded shares of Bank of Nova Scotia from a "sector perform" rating to an "outperform" rating in a research note on Wednesday. Finally, TD Securities raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, August 25th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Bank of Nova Scotia has a consensus rating of "Moderate Buy" and a consensus 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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