Bank of Nova Scotia (The) (NYSE:BNS) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 11.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,343 shares of the bank’s stock after purchasing an additional 336 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Bank of Nova Scotia were worth $159,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Compagnie Lombard Odier SCmA acquired a new position in shares of Bank of Nova Scotia in the 1st quarter valued at $52,000. Independence Bank of Kentucky lifted its stake in Bank of Nova Scotia by 38.4% during the 1st quarter. Independence Bank of Kentucky now owns 1,175 shares of the bank’s stock worth $56,000 after acquiring an additional 326 shares in the last quarter. North Capital Inc. acquired a new position in Bank of Nova Scotia in the 1st quarter valued at about $81,000. Dunhill Financial LLC purchased a new stake in Bank of Nova Scotia during the fourth quarter worth about $95,000. Finally, JCIC Asset Management Inc. purchased a new stake in Bank of Nova Scotia during the first quarter worth about $174,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Down 0.1%

Shares of BNS opened at $56.62 on Friday. The company’s 50-day simple moving average is $55.20 and its 200-day simple moving average is $51.50. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.03. Bank of Nova Scotia has a 1 year low of $44.09 and a 1 year high of $57.07. The stock has a market capitalization of $70.34 billion, a PE ratio of 16.60, a P/E/G ratio of 1.43 and a beta of 1.14.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, May 27th. The bank reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.08). Bank of Nova Scotia had a return on equity of 11.27% and a net margin of 8.83%. The company had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $8.98 billion. During the same quarter last year, the company earned $1.58 EPS. Bank of Nova Scotia’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts forecast that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 2nd were issued a dividend of $0.7996 per share. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.74. The ex-dividend date was Wednesday, July 2nd. This represents a $3.20 annualized dividend and a yield of 5.6%. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 94.72%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Saturday, June 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $81.00.

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.