AQR Capital Management LLC Invests $230,000 in The Bank of Nova Scotia (NYSE:BNS)

AQR Capital Management LLC purchased a new stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,041 shares of the bank’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mather Group LLC. raised its holdings in shares of Bank of Nova Scotia by 1,388.9% in the second quarter. Mather Group LLC. now owns 536 shares of the bank’s stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. Blue Trust Inc. increased its position in shares of Bank of Nova Scotia by 3,127.8% during the second quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock valued at $27,000 after acquiring an additional 563 shares during the last quarter. Headlands Technologies LLC purchased a new position in Bank of Nova Scotia in the first quarter worth $53,000. Galibier Capital Management Ltd. purchased a new position in Bank of Nova Scotia in the first quarter worth $76,000. Finally, EverSource Wealth Advisors LLC grew its stake in Bank of Nova Scotia by 102.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,605 shares of the bank’s stock valued at $83,000 after purchasing an additional 811 shares during the period. 49.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Cibc World Mkts raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th. UBS Group started coverage on shares of Bank of Nova Scotia in a research note on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $69.00.

Bank of Nova Scotia Stock Down 0.3 %

BNS stock opened at $53.51 on Friday. The stock has a fifty day moving average of $50.99 and a 200-day moving average of $48.38. The Bank of Nova Scotia has a fifty-two week low of $39.79 and a fifty-two week high of $55.12. The company has a market capitalization of $65.79 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.02.

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

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd will be paid a $0.768 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $3.07 dividend on an annualized basis and a yield of 5.74%. Bank of Nova Scotia’s dividend payout ratio is 70.50%.

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.