Man Group plc Invests $33.24 Million in Bank of Nova Scotia (The) $BNS

Man Group plc acquired a new stake in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 382,767 shares of the bank's stock, valued at approximately $33,244,000.

Several other institutional investors also recently bought and sold shares of the business. Prospera Financial Services Inc lifted its holdings in Bank of Nova Scotia by 3.9% during the fourth quarter. Prospera Financial Services Inc now owns 4,625 shares of the bank's stock worth $341,000 after buying an additional 173 shares during the period. Larson Financial Group LLC increased its holdings in shares of Bank of Nova Scotia by 22.3% in the 4th quarter. Larson Financial Group LLC now owns 1,280 shares of the bank's stock valued at $94,000 after acquiring an additional 233 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Bank of Nova Scotia by 8.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,193 shares of the bank's stock valued at $235,000 after acquiring an additional 239 shares during the period. Parallel Advisors LLC raised its position in shares of Bank of Nova Scotia by 8.5% in the 3rd quarter. Parallel Advisors LLC now owns 3,326 shares of the bank's stock worth $215,000 after acquiring an additional 261 shares in the last quarter. Finally, Kathmere Capital Management LLC raised its position in shares of Bank of Nova Scotia by 8.5% in the 1st quarter. Kathmere Capital Management LLC now owns 3,579 shares of the bank's stock worth $248,000 after acquiring an additional 281 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

Shares of BNS stock opened at $93.53 on Thursday. Bank of Nova Scotia has a 12-month low of $61.06 and a 12-month high of $94.96. The business's fifty day simple moving average is $87.92 and its 200-day simple moving average is $79.94. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. The company has a market cap of $114.00 billion, a PE ratio of 16.91, a PEG ratio of 1.15 and a beta of 1.11.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last posted its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.05. Bank of Nova Scotia had a return on equity of 13.62% and a net margin of 13.91%.The firm had revenue of $7.24 billion during the quarter, compared to analysts' expectations of $7.13 billion. During the same quarter last year, the firm earned $1.52 EPS. The business's quarterly revenue was up 8.3% on a year-over-year basis. Analysts expect that Bank of Nova Scotia will post 6.03 earnings per share for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Tuesday, October 6th will be issued a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Tuesday, October 6th. Bank of Nova Scotia's dividend payout ratio (DPR) is currently 61.26%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BNS shares. National Bank Financial raised Bank of Nova Scotia from a "sector perform" rating to an "outperform" rating in a research report on Wednesday. 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. Weiss Ratings lowered shares of Bank of Nova Scotia from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Tuesday, August 18th. Royal Bank Of Canada raised their price target on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the company a "sector perform" rating in a report on Thursday, May 28th. Finally, TD Securities raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Bank of Nova Scotia presently has an average rating of "Moderate Buy" and an average target price of $117.00.

Key Stories Impacting Bank of Nova Scotia

Here are the key news stories impacting Bank of Nova Scotia this week:

• Positive Sentiment: Strong Q3 earnings beat expectations. Scotiabank reported quarterly revenue of approximately C$7.52 billion, up 11.1% year over year, while reported EPS of C$1.64 exceeded the C$1.53 consensus estimate. Other coverage highlighted adjusted EPS of C$2.28 versus expectations near C$2.10. Profit increased to C$2.95 billion from C$2.53 billion a year earlier. Scotiabank earnings report
• Positive Sentiment: Capital markets and wealth management led growth. Strong activity amid elevated market volatility helped the global banking and markets division, while global wealth management posted a record result. Reports also pointed to broad-based growth across the bank’s business lines and higher interest income. Scotiabank earnings lifted by wealth management
• Positive Sentiment: Analyst sentiment improved. National Bank Financial upgraded BNS from “sector perform” to “outperform,” while TD Securities raised its rating from “hold” to “buy,” signaling expectations for additional upside following the earnings beat.
• Positive Sentiment: Dividend supports the investment case. Scotiabank declared a quarterly dividend of C$1.14 per share, equivalent to an annualized yield of roughly 4.9% based on the cited share price. The dividend is payable October 28 to shareholders of record October 6.
• Neutral Sentiment: Tariff exposure remains a consideration. Initial reports indicate U.S. tariffs have not materially hurt Canadian banks’ customers so far and could create opportunities, but an escalating trade war remains a potential risk to credit quality, economic activity and future earnings.

Bank of Nova Scotia Company Profile

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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