Ameriprise Financial Inc. Has $397,000 Stake in Bank of Nova Scotia (The) (BNS)

Ameriprise Financial Inc. lifted its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 87.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,604 shares of the bank’s stock after acquiring an additional 3,081 shares during the quarter. Ameriprise Financial Inc.’s holdings in Bank of Nova Scotia (The) were worth $397,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. TD Asset Management Inc. lifted its holdings in Bank of Nova Scotia (The) by 1.4% during the 2nd quarter. TD Asset Management Inc. now owns 38,272,386 shares of the bank’s stock valued at $2,298,937,000 after buying an additional 522,845 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Bank of Nova Scotia (The) by 7.2% during the 2nd quarter. CIBC Asset Management Inc now owns 12,482,899 shares of the bank’s stock valued at $750,050,000 after buying an additional 834,837 shares in the last quarter. Fiera Capital Corp lifted its holdings in Bank of Nova Scotia (The) by 4.7% during the 2nd quarter. Fiera Capital Corp now owns 6,396,251 shares of the bank’s stock valued at $384,090,000 after buying an additional 285,209 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Bank of Nova Scotia (The) by 2.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,574,743 shares of the bank’s stock valued at $214,661,000 after buying an additional 76,866 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its holdings in Bank of Nova Scotia (The) by 5.3% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 3,406,680 shares of the bank’s stock valued at $204,632,000 after buying an additional 170,800 shares in the last quarter. Hedge funds and other institutional investors own 46.51% of the company’s stock.

A number of brokerages recently weighed in on BNS. Zacks Investment Research lowered shares of Bank of Nova Scotia (The) from a “buy” rating to a “sell” rating in a report on Tuesday, October 31st. Canaccord Genuity started coverage on shares of Bank of Nova Scotia (The) in a research report on Tuesday, July 18th. They set a “buy” rating on the stock. Citigroup Inc. raised shares of Bank of Nova Scotia (The) from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 20th. BidaskClub downgraded shares of Bank of Nova Scotia (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Finally, Scotiabank reissued a “buy” rating and set a $88.00 target price on shares of Bank of Nova Scotia (The) in a research report on Wednesday, August 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $83.20.

Bank of Nova Scotia (NYSE:BNS) opened at $65.29 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 1.07. Bank of Nova Scotia has a 12-month low of $51.21 and a 12-month high of $65.99. The stock has a market cap of $78,290.97, a P/E ratio of 13.34, a PEG ratio of 1.51 and a beta of 1.28.

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, August 29th. The bank reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.38). Bank of Nova Scotia (The) had a return on equity of 14.54% and a net margin of 22.26%. The firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the previous year, the firm earned $1.54 EPS. research analysts forecast that Bank of Nova Scotia will post 5.22 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Tuesday, October 3rd were given a dividend of $0.6294 per share. This represents a $2.52 annualized dividend and a yield of 3.86%. The ex-dividend date was Monday, October 2nd. This is an increase from Bank of Nova Scotia (The)’s previous quarterly dividend of $0.56. Bank of Nova Scotia (The)’s payout ratio is currently 50.62%.

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About Bank of Nova Scotia (The)

The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

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

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