K.J. Harrison & Partners Inc Has $8.05 Million Holdings in Bank of Nova Scotia (The) $BNS

K.J. Harrison & Partners Inc boosted its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 100.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123,615 shares of the bank’s stock after acquiring an additional 61,985 shares during the period. Bank of Nova Scotia makes up approximately 1.2% of K.J. Harrison & Partners Inc’s investment portfolio, making the stock its 16th largest holding. K.J. Harrison & Partners Inc’s holdings in Bank of Nova Scotia were worth $8,045,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mondrian Investment Partners LTD acquired a new stake in Bank of Nova Scotia during the 3rd quarter worth approximately $30,000. Cypress Capital Management LLC WY acquired a new stake in shares of Bank of Nova Scotia in the second quarter valued at approximately $33,000. Smartleaf Asset Management LLC lifted its position in shares of Bank of Nova Scotia by 3,304.3% in the third quarter. Smartleaf Asset Management LLC now owns 783 shares of the bank’s stock worth $51,000 after purchasing an additional 760 shares in the last quarter. VSM Wealth Advisory LLC acquired a new position in Bank of Nova Scotia during the second quarter worth $55,000. Finally, Toth Financial Advisory Corp acquired a new stake in Bank of Nova Scotia in the 3rd quarter valued at $67,000. 49.13% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Bank of Nova Scotia

Here are the key news stories impacting Bank of Nova Scotia this week:

• Positive Sentiment: Sharp decline in short interest — Short interest fell ~27.9% month-over-month to 5.42M shares (0.4% of float) with a days-to-cover of ~3.2, which can reduce downward pressure from short sellers and supports near-term positioning.
• Positive Sentiment: Analyst price-target bump — Royal Bank of Canada raised its target from $97 to $106 (sector perform), implying material upside vs. the current price; analyst optimism can lift sentiment and attract buyers. RBC raises PT
• Positive Sentiment: Reported quarter showed revenue strength and margin/ROE improvement — Company filings and summaries show ~ $7.40B revenue and improvements in ROE/net margin; some outlets report an EPS beat vs. consensus, which supports the fundamental case. Quarterly results
• Neutral Sentiment: Earnings call details / transcript — The full Q1 call and slide deck provide color on NIMs, credit trends and guidance; investors should review management’s commentary for sustainability of trends. Earnings call transcript
• Neutral Sentiment: Mixed reporting on EPS — Different outlets have reported slightly different EPS figures (some noting a small beat, others a miss); this discrepancy has created some short-term noise while investors parse GAAP vs. adjusted figures. Earnings presentation
• Negative Sentiment: Valuation concerns — Independent analysis flags that forward P/E and P/B are meaningfully above cyclical averages (~23% above), and that the ~4.3% dividend offers limited protection if macro or credit conditions deteriorate; stretched multiples could cap further upside. Valuation analysis

Bank of Nova Scotia Trading Up 0.7%

Bank of Nova Scotia stock opened at $75.88 on Thursday. The stock has a 50-day simple moving average of $74.59 and a 200 day simple moving average of $68.31. The stock has a market capitalization of $93.54 billion, a P/E ratio of 15.77, a PEG ratio of 1.01 and a beta of 1.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.04 and a current ratio of 1.04. Bank of Nova Scotia has a 52 week low of $44.09 and a 52 week high of $78.28.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, February 24th. The bank reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.06. Bank of Nova Scotia had a return on equity of 12.60% and a net margin of 12.40%.The company had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $6.99 billion. During the same period last year, the firm posted $1.76 earnings per share. The business’s revenue was up 2.9% on a year-over-year basis. Analysts expect that Bank of Nova Scotia will post 4.91 earnings per share for the current year.

Bank of Nova Scotia Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 7th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, April 7th. This represents a $4.40 annualized dividend and a yield of 5.8%. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 79.85%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BNS shares. Royal Bank Of Canada increased their price objective on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Raymond James Financial assumed coverage on Bank of Nova Scotia in a report on Tuesday, November 25th. They set an “outperform” rating on the stock. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Bank of Nova Scotia in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Hold” and an average price target of $106.00.

Bank of Nova Scotia Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.