TD Waterhouse Canada Inc. Sells 234,200 Shares of Bank of Nova Scotia (The) $BNS

TD Waterhouse Canada Inc. trimmed its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,810,703 shares of the bank’s stock after selling 234,200 shares during the period. Bank of Nova Scotia comprises 2.1% of TD Waterhouse Canada Inc.’s investment portfolio, making the stock its 9th largest position. TD Waterhouse Canada Inc. owned 0.72% of Bank of Nova Scotia worth $796,537,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Maseco LLP acquired a new position in shares of Bank of Nova Scotia during the 1st quarter valued at $30,000. CoreCap Advisors LLC increased its holdings in Bank of Nova Scotia by 1,366.7% in the 2nd quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock valued at $38,000 after purchasing an additional 410 shares in the last quarter. Addison Advisors LLC acquired a new stake in Bank of Nova Scotia in the 2nd quarter valued at $39,000. Global Retirement Partners LLC purchased a new position in Bank of Nova Scotia in the second quarter valued at about $46,000. Finally, Jones Financial Companies Lllp purchased a new position in Bank of Nova Scotia in the second quarter valued at about $61,000. 49.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on BNS shares. TD upgraded Bank of Nova Scotia to a “buy” rating in a research note on Wednesday, August 26th. National Bank Financial upgraded Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, August 26th. Weiss Ratings upgraded Bank of Nova Scotia from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th. TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, August 25th. Finally, Keefe, Bruyette & Woods initiated coverage on Bank of Nova Scotia in a research report on Friday, August 21st. They set an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $105.50.

Bank of Nova Scotia Stock Up 0.5%

NYSE:BNS traded up $0.46 on Friday, reaching $91.58. The stock had a trading volume of 909,735 shares, compared to its average volume of 2,011,292. The company has a 50-day moving average of $91.42 and a 200 day moving average of $84.77. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.98. The stock has a market cap of $111.44 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 1.02 and a beta of 1.14. Bank of Nova Scotia has a 12-month low of $63.68 and a 12-month high of $95.74.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its earnings results on Tuesday, August 25th. The bank reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.11. Bank of Nova Scotia had a return on equity of 16.12% and a net margin of 13.91%. The company had revenue of $7.52 billion during the quarter, compared to the consensus estimate of $7.11 billion. During the same period last year, the firm earned $1.84 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. On average, research analysts predict that Bank of Nova Scotia will post 6.19 earnings per share for the current year.

Bank of Nova Scotia Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Tuesday, October 6th will be issued a C$1.14 dividend. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $4.56 dividend on an annualized basis and a yield of 5.0%. Bank of Nova Scotia’s dividend payout ratio is currently 57.87%.

Bank of Nova Scotia Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian financial services company headquartered in Toronto, Ontario. Founded in 1832, it is one of Canada’s largest banks and provides a broad range of banking and financial services to individuals, businesses, institutions and governments.

Scotiabank’s principal activities include Canadian personal and commercial banking, wealth management, and global banking and markets. Its products and services include deposit accounts, residential mortgages, consumer and business loans, credit cards, investment and advisory services, foreign exchange, capital markets and corporate finance.

The bank serves customers across Canada and maintains international operations, particularly in Mexico, Peru, Chile and selected markets in the Caribbean and Central America.