Intact Investment Management Inc. Has $51.96 Million Stake in Bank of Nova Scotia (The) (NYSE:BNS)

Intact Investment Management Inc. trimmed its position in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 10.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,095,762 shares of the bank's stock after selling 126,120 shares during the quarter. Bank of Nova Scotia accounts for 1.8% of Intact Investment Management Inc.'s investment portfolio, making the stock its 14th largest holding. Intact Investment Management Inc. owned 0.09% of Bank of Nova Scotia worth $51,961,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Private Advisor Group LLC raised its position in shares of Bank of Nova Scotia by 3.5% during the fourth quarter. Private Advisor Group LLC now owns 6,248 shares of the bank's stock worth $336,000 after purchasing an additional 211 shares during the period. Moran Wealth Management LLC raised its position in Bank of Nova Scotia by 6.5% in the 4th quarter. Moran Wealth Management LLC now owns 3,925 shares of the bank's stock valued at $211,000 after buying an additional 240 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Bank of Nova Scotia by 4.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,399 shares of the bank's stock valued at $290,000 after buying an additional 248 shares during the last quarter. Lindbrook Capital LLC raised its position in Bank of Nova Scotia by 10.2% in the 4th quarter. Lindbrook Capital LLC now owns 2,860 shares of the bank's stock valued at $154,000 after buying an additional 264 shares during the last quarter. Finally, Sara Bay Financial raised its position in Bank of Nova Scotia by 6.2% in the 1st quarter. Sara Bay Financial now owns 5,021 shares of the bank's stock valued at $240,000 after buying an additional 294 shares during the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Down 0.2%

Shares of NYSE:BNS opened at $54.19 on Friday. The company has a market capitalization of $67.50 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.37 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03. The business has a fifty day moving average price of $51.30 and a two-hundred day moving average price of $50.91. Bank of Nova Scotia has a 1 year low of $43.68 and a 1 year high of $57.07.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last posted its quarterly earnings results on Tuesday, May 27th. The bank reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.08). The firm had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $8.98 billion. Bank of Nova Scotia had a return on equity of 11.27% and a net margin of 8.83%. The firm's revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS. Analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 2nd will be paid a dividend of $0.7996 per share. This is an increase from Bank of Nova Scotia's previous quarterly dividend of $0.74. The ex-dividend date is Wednesday, July 2nd. This represents a $3.20 annualized dividend and a dividend yield of 5.90%. Bank of Nova Scotia's dividend payout ratio is presently 86.51%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BNS shares. Royal Bank Of Canada lowered their price target on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. Bank of America lowered Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. Finally, Wall Street Zen downgraded Bank of Nova Scotia from a "hold" rating to a "sell" rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus 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.

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