Intact Investment Management Inc. Has $38.45 Million Holdings in The Bank of Nova Scotia (NYSE:BNS)

Intact Investment Management Inc. lifted its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 79.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 789,954 shares of the bank’s stock after buying an additional 349,593 shares during the period. Bank of Nova Scotia comprises approximately 1.6% of Intact Investment Management Inc.’s investment portfolio, making the stock its 21st biggest position. Intact Investment Management Inc. owned approximately 0.07% of Bank of Nova Scotia worth $38,454,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Bank of Nova Scotia by 1.6% during the third quarter. Vanguard Group Inc. now owns 45,691,098 shares of the bank’s stock worth $2,083,057,000 after buying an additional 725,489 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Bank of Nova Scotia by 3.4% during the third quarter. Toronto Dominion Bank now owns 22,567,680 shares of the bank’s stock worth $1,028,861,000 after buying an additional 736,807 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Bank of Nova Scotia by 8.7% during the third quarter. Mackenzie Financial Corp now owns 15,684,313 shares of the bank’s stock worth $665,191,000 after buying an additional 1,256,868 shares in the last quarter. Scotia Capital Inc. increased its holdings in shares of Bank of Nova Scotia by 1.4% during the third quarter. Scotia Capital Inc. now owns 13,387,765 shares of the bank’s stock worth $600,211,000 after buying an additional 183,008 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Bank of Nova Scotia by 4.0% during the third quarter. CIBC Asset Management Inc now owns 8,194,388 shares of the bank’s stock worth $368,423,000 after buying an additional 314,943 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Trading Up 0.7 %

NYSE BNS traded up $0.33 on Friday, reaching $46.56. The company had a trading volume of 1,145,238 shares, compared to its average volume of 2,092,914. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day moving average of $48.94 and a two-hundred day moving average of $46.45. The Bank of Nova Scotia has a fifty-two week low of $39.79 and a fifty-two week high of $51.98. The firm has a market cap of $56.91 billion, a price-to-earnings ratio of 10.30, a P/E/G ratio of 1.53 and a beta of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, February 27th. The bank reported $1.25 earnings per share 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 firm had revenue of $14.13 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same period last year, the business posted $1.37 EPS. Analysts forecast that The Bank of Nova Scotia will post 4.9 EPS for the current year.

Bank of Nova Scotia Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Tuesday, April 2nd were issued a dividend of $0.7843 per share. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.78. This represents a $3.14 dividend on an annualized basis and a yield of 6.74%. The ex-dividend date was Monday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 34.96%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BNS. Jefferies Financial Group began coverage on Bank of Nova Scotia in a report on Thursday, February 22nd. They issued a “hold” rating for the company. 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. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $68.00.

Bank of Nova Scotia Company Profile

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.