XTX Topco Ltd Takes Position in The Bank of Nova Scotia (NYSE:BNS)

XTX Topco Ltd purchased a new position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,053 shares of the bank’s stock, valued at approximately $734,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Sienna Gestion lifted its stake in Bank of Nova Scotia by 38.4% in the second quarter. Sienna Gestion now owns 16,954 shares of the bank’s stock worth $775,000 after acquiring an additional 4,707 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Bank of Nova Scotia by 12.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 23,747 shares of the bank’s stock worth $1,086,000 after acquiring an additional 2,563 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Bank of Nova Scotia by 45.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 61,759 shares of the bank’s stock worth $2,824,000 after acquiring an additional 19,407 shares during the last quarter. Rathbones Group PLC lifted its stake in Bank of Nova Scotia by 11.8% in the second quarter. Rathbones Group PLC now owns 136,337 shares of the bank’s stock worth $6,235,000 after acquiring an additional 14,379 shares during the last quarter. Finally, Westover Capital Advisors LLC purchased a new position in Bank of Nova Scotia in the second quarter worth approximately $222,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com downgraded shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Wednesday, May 29th. UBS Group started coverage on shares of Bank of Nova Scotia in a report on Tuesday, July 2nd. They set a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Bank of Nova Scotia has a consensus rating of “Hold” and an average target price of $69.00.

Bank of Nova Scotia Stock Up 1.9 %

BNS stock opened at $54.07 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61. The Bank of Nova Scotia has a twelve month low of $39.79 and a twelve month high of $54.22. The company’s 50 day moving average is $48.30 and its two-hundred day moving average is $47.95. The stock has a market cap of $66.48 billion, a P/E 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 released its quarterly earnings data 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. The company had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.53 billion. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $1.30 earnings per share. Research analysts expect that The Bank of Nova Scotia will post 4.8 earnings per share for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd will be issued 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 dividend yield of 5.68%. Bank of Nova Scotia’s payout ratio is 70.72%.

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.