Man Group plc Makes New $33.24 Million Investment in Bank of Nova Scotia (The) $BNS

Man Group plc acquired a new stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 382,767 shares of the bank’s stock, valued at approximately $33,244,000.

Other large investors have also recently made changes to their positions in the company. Maseco LLP purchased a new position in Bank of Nova Scotia in the 1st quarter worth $30,000. Swiss RE Ltd. acquired a new stake in Bank of Nova Scotia during the 4th quarter worth about $30,000. Brown Brothers Harriman & Co. purchased a new stake in Bank of Nova Scotia during the 4th quarter valued at about $34,000. Quarry LP purchased a new stake in Bank of Nova Scotia during the 3rd quarter valued at about $35,000. Finally, CoreCap Advisors LLC increased its holdings in shares of Bank of Nova Scotia by 1,366.7% in the second quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock valued at $38,000 after purchasing an additional 410 shares during the period. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $93.53 on Thursday. The stock has a market cap of $114.00 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 1.15 and a beta of 1.11. The business has a 50-day simple moving average of $87.92 and a 200-day simple moving average of $79.94. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. Bank of Nova Scotia has a 52-week low of $61.06 and a 52-week high of $94.96.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, beating the consensus estimate of $1.42 by $0.05. The company had revenue of $7.24 billion for the quarter, compared to analyst estimates of $7.13 billion. Bank of Nova Scotia had a net margin of 13.91% and a return on equity of 13.62%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business earned $1.52 earnings per share. On average, equities analysts expect that Bank of Nova Scotia will post 6.03 EPS for the current year.

Bank of Nova Scotia Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Tuesday, October 6th will be issued a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 4.9%. The ex-dividend date is Tuesday, October 6th. Bank of Nova Scotia’s payout ratio is presently 61.26%.

Bank of Nova Scotia News Summary

Here are the key news stories impacting Bank of Nova Scotia this week:

• Positive Sentiment: Strong Q3 earnings beat expectations. Scotiabank reported quarterly revenue of approximately C$7.52 billion, up 11.1% year over year, while reported EPS of C$1.64 exceeded the C$1.53 consensus estimate. Other coverage highlighted adjusted EPS of C$2.28 versus expectations near C$2.10. Profit increased to C$2.95 billion from C$2.53 billion a year earlier. Scotiabank earnings report
• Positive Sentiment: Capital markets and wealth management led growth. Strong activity amid elevated market volatility helped the global banking and markets division, while global wealth management posted a record result. Reports also pointed to broad-based growth across the bank’s business lines and higher interest income. Scotiabank earnings lifted by wealth management
• Positive Sentiment: Analyst sentiment improved. National Bank Financial upgraded BNS from “sector perform” to “outperform,” while TD Securities raised its rating from “hold” to “buy,” signaling expectations for additional upside following the earnings beat.
• Positive Sentiment: Dividend supports the investment case. Scotiabank declared a quarterly dividend of C$1.14 per share, equivalent to an annualized yield of roughly 4.9% based on the cited share price. The dividend is payable October 28 to shareholders of record October 6.
• Neutral Sentiment: Tariff exposure remains a consideration. Initial reports indicate U.S. tariffs have not materially hurt Canadian banks’ customers so far and could create opportunities, but an escalating trade war remains a potential risk to credit quality, economic activity and future earnings.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Weiss Ratings downgraded Bank of Nova Scotia from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, August 18th. National Bank Financial raised shares of Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a research report on Wednesday. TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday. Royal Bank Of Canada upped their price objective on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a report on Thursday, May 28th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Bank of Nova Scotia in a research note on Friday, August 21st. They issued an “outperform” rating on the stock. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.00.

Bank of Nova Scotia Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.