TD Asset Management Inc Has $852.65 Million Stock Position in The Bank of Nova Scotia (NYSE:BNS)

TD Asset Management Inc lowered its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,643,699 shares of the bank’s stock after selling 292,070 shares during the quarter. Bank of Nova Scotia makes up approximately 0.8% of TD Asset Management Inc’s holdings, making the stock its 25th biggest holding. TD Asset Management Inc owned about 1.52% of Bank of Nova Scotia worth $852,649,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Bank of Nova Scotia by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 47,862,189 shares of the bank’s stock worth $2,478,304,000 after acquiring an additional 891,157 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in Bank of Nova Scotia by 16.1% during the 1st quarter. 1832 Asset Management L.P. now owns 17,015,877 shares of the bank’s stock worth $881,082,000 after acquiring an additional 2,361,136 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Bank of Nova Scotia by 17.6% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,563,337 shares of the bank’s stock worth $753,658,000 after acquiring an additional 2,178,633 shares during the last quarter. Norges Bank bought a new stake in Bank of Nova Scotia during the 4th quarter worth about $652,409,000. Finally, JARISLOWSKY FRASER Ltd grew its holdings in Bank of Nova Scotia by 4.3% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 13,163,545 shares of the bank’s stock worth $643,900,000 after acquiring an additional 542,398 shares during the last quarter. Institutional investors own 49.13% of the company’s stock.

Analyst Upgrades and Downgrades

BNS has been the topic of a number of research analyst reports. StockNews.com lowered shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. UBS Group began coverage on shares of Bank of Nova Scotia in a research note on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $69.00.

Bank of Nova Scotia Stock Up 0.2 %

Shares of NYSE BNS opened at $50.91 on Thursday. The firm has a market capitalization of $62.60 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.58 and a beta of 1.04. The company has a current ratio of 1.02, a quick ratio of 1.03 and a debt-to-equity ratio of 0.61. The Bank of Nova Scotia has a 1 year low of $39.79 and a 1 year high of $51.98. The firm’s 50-day moving average is $46.81 and its 200-day moving average is $47.63.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.01. The company had revenue of $8.36 billion for the quarter, compared to analyst estimates of $8.53 billion. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 EPS. Equities analysts expect that The Bank of Nova Scotia will post 4.8 EPS for the current year.

Bank of Nova Scotia Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd will be given 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 6.03%. Bank of Nova Scotia’s dividend payout ratio is 69.14%.

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.