The Bank of Nova Scotia (NYSE:BNS) Shares Purchased by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. boosted its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 58.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 127,589 shares of the bank’s stock after acquiring an additional 46,997 shares during the period. Triasima Portfolio Management inc.’s holdings in Bank of Nova Scotia were worth $5,834,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BNS. Mather Group LLC. grew its position in shares of Bank of Nova Scotia by 1,388.9% in the second quarter. Mather Group LLC. now owns 536 shares of the bank’s stock valued at $25,000 after purchasing an additional 500 shares during the period. Blue Trust Inc. grew its holdings in Bank of Nova Scotia by 3,127.8% in the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock valued at $27,000 after buying an additional 563 shares during the period. Bruce G. Allen Investments LLC increased its stake in shares of Bank of Nova Scotia by 70.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock valued at $30,000 after acquiring an additional 242 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Bank of Nova Scotia by 144.6% during the 1st quarter. Global Retirement Partners LLC now owns 959 shares of the bank’s stock valued at $50,000 after acquiring an additional 567 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Bank of Nova Scotia during the 1st quarter worth about $53,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Bank of Nova Scotia Trading Down 0.3 %

BNS traded down $0.13 on Friday, reaching $50.50. 1,289,633 shares of the company’s stock were exchanged, compared to its average volume of 1,840,729. The Bank of Nova Scotia has a twelve month low of $39.79 and a twelve month high of $51.98. The company’s 50 day moving average is $47.01 and its 200-day moving average is $47.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.03 and a current ratio of 1.02. The company has a market cap of $62.09 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 1.58 and a beta of 1.04.

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

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd will be issued a $0.768 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $3.07 annualized dividend and a yield of 6.08%. Bank of Nova Scotia’s dividend payout ratio is currently 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.