OMERS ADMINISTRATION Corp Increases Holdings in Bank of Nova Scotia (The) $BNS

Key Points

• OMERS ADMINISTRATION Corp increased its holdings by 1.7%, purchasing 8,007 additional shares of Bank of Nova Scotia, bringing its total to 466,940 shares valued at approximately $22 million.
• The bank recently declared a quarterly dividend of $1.10 per share, up from the previous $0.80, representing an annualized yield of 7.1%.
• Bank of Nova Scotia reported $1.37 earnings per share for the last quarter, exceeding analysts' expectations, despite revenue falling short at $6.85 billion compared to estimates of $9.29 billion.

OMERS ADMINISTRATION Corp grew its holdings in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 1.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 466,940 shares of the bank's stock after buying an additional 8,007 shares during the period. OMERS ADMINISTRATION Corp's holdings in Bank of Nova Scotia were worth $22,136,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of BNS. Envestnet Asset Management Inc. raised its holdings in Bank of Nova Scotia by 22.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 7,621 shares of the bank's stock valued at $409,000 after buying an additional 1,413 shares during the period. Raymond James Financial Inc. acquired a new position in Bank of Nova Scotia in the 4th quarter valued at about $1,716,000. Tower Research Capital LLC TRC grew 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 acquiring an additional 248 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Bank of Nova Scotia by 0.6% during the 4th quarter. Stifel Financial Corp now owns 64,427 shares of the bank's stock worth $3,461,000 after purchasing an additional 373 shares during the last quarter. Finally, MGO One Seven LLC acquired a new stake in shares of Bank of Nova Scotia during the 4th quarter worth about $254,000. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BNS has been the topic of several research analyst reports. Wall Street Zen raised Bank of Nova Scotia from a "sell" rating to a "hold" rating in a research report on Saturday. Royal Bank Of Canada lifted their price target on 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. 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.com, the stock has a consensus rating of "Hold" and a consensus target price of $86.00.

Bank of Nova Scotia Stock Performance

Shares of BNS stock traded down $0.40 during trading hours on Tuesday, reaching $62.07. 486,738 shares of the company's stock were exchanged, compared to its average volume of 1,991,737. The company has a market cap of $77.11 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 1.45 and a beta of 1.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.03 and a quick ratio of 1.03. The company's 50 day moving average is $56.37 and its two-hundred day moving average is $52.19. Bank of Nova Scotia has a 1 year low of $44.09 and a 1 year high of $62.69.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its earnings results on Tuesday, August 26th. The bank reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. The firm had revenue of $6.85 billion for the quarter, compared to analysts' expectations of $9.29 billion. Bank of Nova Scotia had a return on equity of 11.61% and a net margin of 9.74%.Bank of Nova Scotia's quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 EPS. Equities research analysts anticipate that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

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.