Intech Investment Management LLC Has $6.77 Million Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

Intech Investment Management LLC grew its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 97.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 148,110 shares of the bank’s stock after acquiring an additional 73,128 shares during the quarter. Intech Investment Management LLC’s holdings in Bank of Nova Scotia were worth $6,774,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BNS. Wealth Enhancement Advisory Services LLC boosted its holdings in Bank of Nova Scotia by 1.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,432 shares of the bank’s stock worth $799,000 after purchasing an additional 219 shares during the last quarter. Power Corp of Canada grew its holdings in shares of Bank of Nova Scotia by 1.9% in the 4th quarter. Power Corp of Canada now owns 12,037 shares of the bank’s stock valued at $587,000 after acquiring an additional 226 shares in the last quarter. Bruce G. Allen Investments LLC increased its position in shares of Bank of Nova Scotia by 70.6% in the first quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock valued at $30,000 after acquiring an additional 242 shares during the last quarter. Pacifica Partners Inc. raised its holdings in Bank of Nova Scotia by 1.5% during the second quarter. Pacifica Partners Inc. now owns 19,493 shares of the bank’s stock worth $889,000 after acquiring an additional 288 shares in the last quarter. Finally, Gold Investment Management Ltd. boosted its position in Bank of Nova Scotia by 0.3% during the first quarter. Gold Investment Management Ltd. now owns 111,564 shares of the bank’s stock valued at $5,773,000 after purchasing an additional 292 shares during the last quarter. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Stock Performance

BNS opened at $54.07 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The Bank of Nova Scotia has a 12-month low of $39.79 and a 12-month high of $54.22. The business has a 50 day moving average of $48.30 and a 200-day moving average of $47.96. The stock has a market cap of $66.48 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.64 and a beta of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.01. The business had revenue of $8.36 billion for the quarter, compared to analyst estimates of $8.53 billion. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. Bank of Nova Scotia’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.30 EPS. On average, equities research analysts expect that The Bank of Nova Scotia will post 4.8 earnings per share for the current year.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.768 per share. This represents a $3.07 annualized dividend and a yield of 5.68%. The ex-dividend date is Wednesday, October 2nd. Bank of Nova Scotia’s payout ratio is 70.72%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BNS. StockNews.com lowered Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Wednesday, May 29th. UBS Group began coverage on shares of Bank of Nova Scotia in a research report on Tuesday, July 2nd. They set a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $69.00.

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.