Korea Investment CORP Has $44.62 Million Position in Bank of Nova Scotia (The) $BNS

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Korea Investment CORP grew its position in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 0.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 941,286 shares of the bank's stock after acquiring an additional 5,085 shares during the period. Korea Investment CORP owned 0.08% of Bank of Nova Scotia worth $44,623,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Tower Research Capital LLC TRC increased its holdings in Bank of Nova Scotia by 4.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,399 shares of the bank's stock valued at $290,000 after purchasing an additional 248 shares during the period. Sara Bay Financial increased its holdings in Bank of Nova Scotia by 6.2% in the first quarter. Sara Bay Financial now owns 5,021 shares of the bank's stock valued at $240,000 after purchasing an additional 294 shares during the period. Avantax Advisory Services Inc. increased its holdings in Bank of Nova Scotia by 0.5% in the first quarter. Avantax Advisory Services Inc. now owns 58,073 shares of the bank's stock valued at $2,754,000 after purchasing an additional 298 shares during the period. Orca Wealth Management LLC increased its holdings in Bank of Nova Scotia by 1.9% in the first quarter. Orca Wealth Management LLC now owns 16,839 shares of the bank's stock valued at $799,000 after purchasing an additional 307 shares during the period. Finally, Independence Bank of Kentucky increased its holdings in Bank of Nova Scotia by 38.4% in the first quarter. Independence Bank of Kentucky now owns 1,175 shares of the bank's stock valued at $56,000 after purchasing an additional 326 shares during the period. 49.13% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Trading Up 1.8%

Bank of Nova Scotia stock traded up $1.0250 during trading hours on Friday, reaching $57.6350. 2,135,103 shares of the company's stock were exchanged, compared to its average volume of 1,399,373. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62. The firm's 50 day simple moving average is $55.54 and its 200 day simple moving average is $51.75. Bank of Nova Scotia has a twelve month low of $44.09 and a twelve month high of $57.70. The firm has a market capitalization of $71.61 billion, a PE ratio of 16.90, a PEG ratio of 1.47 and a beta of 1.14.

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

Bank of Nova Scotia Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 2nd were issued a dividend of $0.7996 per share. This represents a $3.20 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Wednesday, July 2nd. This is an increase from Bank of Nova Scotia's previous quarterly dividend of $0.74. Bank of Nova Scotia's dividend payout ratio (DPR) is 94.72%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Bank of Nova Scotia from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $81.00.

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.