Bank of Nova Scotia (The) $BNS Shares Acquired by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. increased its holdings in Bank of Nova Scotia by 146%, now owning 12,042 shares valued at approximately $571,000.
• Bank of Nova Scotia recently reported a quarterly earnings per share (EPS) of $1.06, missing analysts' estimates, while its revenue was $6.59 billion, below expectations.
• The bank has increased its quarterly dividend to $0.7996 per share, representing an annualized yield of 5.6% and a payout ratio of 94.72%.

Fox Run Management L.L.C. increased its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 146.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,042 shares of the bank's stock after buying an additional 7,146 shares during the quarter. Fox Run Management L.L.C.'s holdings in Bank of Nova Scotia were worth $571,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its holdings in shares of Bank of Nova Scotia by 255.9% during the first quarter. Goldman Sachs Group Inc. now owns 10,174,780 shares of the bank's stock valued at $482,590,000 after buying an additional 7,315,915 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Bank of Nova Scotia by 3.5% during the first quarter. Vanguard Group Inc. now owns 53,184,171 shares of the bank's stock valued at $2,521,621,000 after buying an additional 1,821,025 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Bank of Nova Scotia during the fourth quarter valued at approximately $96,529,000. JPMorgan Chase & Co. boosted its position in Bank of Nova Scotia by 25.2% during the 1st quarter. JPMorgan Chase & Co. now owns 7,168,917 shares of the bank's stock worth $340,022,000 after acquiring an additional 1,441,302 shares during the period. Finally, Value Partners Investments Inc. boosted its position in Bank of Nova Scotia by 907.4% during the 1st quarter. Value Partners Investments Inc. now owns 1,124,324 shares of the bank's stock worth $53,362,000 after acquiring an additional 1,012,715 shares during the period. 49.13% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Price Performance

BNS traded up $1.0250 on Friday, reaching $57.6350. The company had a trading volume of 2,135,103 shares, compared to its average volume of 1,336,226. The company has a fifty day moving average of $55.54 and a 200-day moving average of $51.75. The company has a market capitalization of $71.61 billion, a P/E ratio of 16.90, a PEG ratio of 1.47 and a beta of 1.14. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62. Bank of Nova Scotia has a one year low of $44.09 and a one year high of $57.70.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its earnings results on Tuesday, May 27th. The bank reported $1.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.14 by ($0.08). The company had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $8.98 billion. Bank of Nova Scotia had a net margin of 8.83% and a return on equity of 11.27%. The business's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 EPS. As a group, equities research analysts anticipate that Bank of Nova Scotia will post 4.91 earnings per share for the current year.

Bank of Nova Scotia Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 2nd were issued a $0.7996 dividend. This represents a $3.20 annualized dividend and a dividend yield of 5.5%. This is a positive change from Bank of Nova Scotia's previous quarterly dividend of $0.74. The ex-dividend date was Wednesday, July 2nd. Bank of Nova Scotia's payout ratio is currently 94.72%.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Bank of Nova Scotia from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Bank of Nova Scotia has an average rating of "Hold" and an average target price of $81.00.

Bank of Nova Scotia 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.