FORA Capital LLC Purchases Shares of 46,096 Bank of Nova Scotia (The) $BNS

Key Points

• FORA Capital LLC has made a new investment of $2.19 million in Bank of Nova Scotia, acquiring 46,096 shares of the bank's stock in the first quarter.
• Bank of Nova Scotia is increasing its quarterly dividend to $1.10, up from $0.80, resulting in a 7.2% yield for investors.
• Despite a year-over-year revenue increase of 8.8%, Bank of Nova Scotia's recent earnings report showed an EPS of $1.06, missing analyst estimates of $1.14.

FORA Capital LLC purchased a new stake in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 46,096 shares of the bank's stock, valued at approximately $2,186,000.

Other hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC grew its stake in shares of Bank of Nova Scotia by 4.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,801 shares of the bank's stock valued at $512,000 after buying an additional 442 shares during the period. Korea Investment CORP grew its stake in shares of Bank of Nova Scotia by 0.5% in the 1st quarter. Korea Investment CORP now owns 941,286 shares of the bank's stock valued at $44,623,000 after buying an additional 5,085 shares during the period. Fox Run Management L.L.C. grew its stake in shares of Bank of Nova Scotia by 146.0% in the 1st quarter. Fox Run Management L.L.C. now owns 12,042 shares of the bank's stock valued at $571,000 after buying an additional 7,146 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Bank of Nova Scotia by 5.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,155,791 shares of the bank's stock valued at $54,819,000 after buying an additional 60,506 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Bank of Nova Scotia by 3.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,938 shares of the bank's stock worth $709,000 after purchasing an additional 466 shares during the period. Hedge funds and other institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Stock Up 0.1%

BNS stock traded up $0.08 during midday trading on Monday, hitting $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 quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.66. Bank of Nova Scotia has a 52-week low of $44.09 and a 52-week high of $62.69. The firm has a market capitalization of $77.61 billion, a P/E ratio of 16.79, a PEG ratio of 1.45 and a beta of 1.16. The firm has a 50-day simple moving average of $56.37 and a 200-day simple moving average of $52.19.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last issued its quarterly earnings results on Tuesday, August 26th. The bank reported $1.37 EPS for the quarter, beating the consensus estimate 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 company had revenue of $6.85 billion during the quarter, compared to analysts' expectations of $9.29 billion. During the same quarter last year, the company posted $1.63 EPS. The firm's revenue was up 13.4% compared to the same quarter last year. As a group, equities analysts forecast that Bank of Nova Scotia will post 4.91 EPS for the current year.

Analyst Ratings Changes

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

Bank of Nova Scotia Company Profile

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.