Van ECK Associates Corp Has $10.30 Million Position in The Bank of Nova Scotia (NYSE:BNS)

Van ECK Associates Corp increased its position in shares of The Bank of Nova Scotia (NYSE:BNSFree Report) (TSE:BNS) by 20.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 211,443 shares of the bank’s stock after purchasing an additional 35,549 shares during the period. Van ECK Associates Corp’s holdings in Bank of Nova Scotia were worth $10,298,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. AMF Tjanstepension AB raised its holdings in Bank of Nova Scotia by 25.6% in the 3rd quarter. AMF Tjanstepension AB now owns 574,571 shares of the bank’s stock valued at $25,983,000 after acquiring an additional 117,219 shares in the last quarter. Value Partners Investments Inc. raised its holdings in Bank of Nova Scotia by 7.7% in the 3rd quarter. Value Partners Investments Inc. now owns 1,433,198 shares of the bank’s stock valued at $64,536,000 after acquiring an additional 101,860 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Bank of Nova Scotia by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 8,194,388 shares of the bank’s stock valued at $368,423,000 after acquiring an additional 314,943 shares in the last quarter. Vanguard Group Inc. raised its holdings in Bank of Nova Scotia by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 45,691,098 shares of the bank’s stock valued at $2,083,057,000 after acquiring an additional 725,489 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in Bank of Nova Scotia by 71.6% in the 4th quarter. Fifth Third Bancorp now owns 858 shares of the bank’s stock valued at $42,000 after acquiring an additional 358 shares in the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock opened at $46.30 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.03 and a current ratio of 1.03. The Bank of Nova Scotia has a 52 week low of $39.79 and a 52 week high of $51.98. The stock has a market capitalization of $56.59 billion, a P/E ratio of 10.24, a price-to-earnings-growth ratio of 1.52 and a beta of 1.05. The stock has a fifty day moving average of $48.85 and a 200-day moving average of $46.52.

Bank of Nova Scotia (NYSE:BNSGet Free Report) (TSE:BNS) last posted its quarterly earnings results on Tuesday, February 27th. The bank reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.06. Bank of Nova Scotia had a return on equity of 11.51% and a net margin of 10.71%. The company had revenue of $14.13 billion during the quarter, compared to analysts’ expectations of $6.01 billion. During the same quarter in the previous year, the firm earned $1.37 EPS. On average, sell-side analysts expect that The Bank of Nova Scotia will post 4.9 earnings per share for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Tuesday, April 2nd were issued a $0.7843 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 6.78%. The ex-dividend date was Monday, April 1st. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.78. Bank of Nova Scotia’s dividend payout ratio is presently 69.47%.

Analysts Set New Price Targets

Several brokerages have weighed in on BNS. Barclays began coverage on Bank of Nova Scotia in a report on Wednesday, March 20th. They issued an “underweight” rating and a $70.00 price objective for the company. Jefferies Financial Group started coverage on Bank of Nova Scotia in a report on Thursday, February 22nd. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of “Hold” and an average price target of $68.00.

Check Out Our Latest Stock Report on BNS

Bank of Nova Scotia Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bank of Nova Scotia (NYSE:BNS)

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