APG Asset Management N.V. decreased its position in shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 9.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 354,562 shares of the bank’s stock after selling 37,500 shares during the period. APG Asset Management N.V.’s holdings in Bank of Nova Scotia were worth $15,454,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of BNS. Millennium Management LLC increased its position in shares of Bank of Nova Scotia by 669.3% during the fourth quarter. Millennium Management LLC now owns 163,067 shares of the bank’s stock worth $8,132,000 after buying an additional 141,869 shares during the period. Merit Financial Group LLC boosted its stake in Bank of Nova Scotia by 4.1% during the fourth quarter. Merit Financial Group LLC now owns 5,838 shares of the bank’s stock worth $291,000 after acquiring an additional 228 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Bank of Nova Scotia by 200.6% during the fourth quarter. Macquarie Group Ltd. now owns 73,100 shares of the bank’s stock worth $3,644,000 after acquiring an additional 48,780 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Bank of Nova Scotia by 1.4% in the fourth quarter. Legal & General Group Plc now owns 4,607,479 shares of the bank’s stock valued at $229,562,000 after buying an additional 62,705 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Bank of Nova Scotia by 127.7% in the fourth quarter. Jane Street Group LLC now owns 41,264 shares of the bank’s stock valued at $2,058,000 after buying an additional 23,145 shares in the last quarter. 47.94% of the stock is owned by institutional investors.
BNS has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, January 29th. TD Securities lowered shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research report on Tuesday, February 26th. CIBC downgraded shares of Bank of Nova Scotia from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, February 27th. Finally, Desjardins reiterated an “average” rating and issued a $81.00 target price on shares of Bank of Nova Scotia in a research note on Wednesday, February 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $79.50.
Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its earnings results on Tuesday, February 26th. The bank reported $1.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.42 by ($0.10). The business had revenue of $7.60 billion during the quarter, compared to analysts’ expectations of $7.78 billion. Bank of Nova Scotia had a return on equity of 13.93% and a net margin of 19.86%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.74 earnings per share. Equities research analysts anticipate that Bank of Nova Scotia will post 5.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Tuesday, April 2nd will be given a dividend of $0.663 per share. The ex-dividend date is Monday, April 1st. This represents a $2.65 annualized dividend and a dividend yield of 4.93%. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.65. Bank of Nova Scotia’s dividend payout ratio is presently 47.98%.
Bank of Nova Scotia Profile
The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.
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