Two Sigma Securities LLC Makes New $1.06 Million Investment in Bank of Nova Scotia (The) $BNS

Two Sigma Securities LLC acquired a new position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,201 shares of the bank’s stock, valued at approximately $1,060,000.

Several other institutional investors have also recently modified their holdings of BNS. Maseco LLP bought a new stake in Bank of Nova Scotia in the 1st quarter worth approximately $30,000. Swiss RE Ltd. bought a new position in Bank of Nova Scotia during the fourth quarter valued at approximately $30,000. Brown Brothers Harriman & Co. bought a new position in Bank of Nova Scotia during the fourth quarter valued at approximately $34,000. Quarry LP purchased a new position in shares of Bank of Nova Scotia during the third quarter worth approximately $35,000. Finally, CoreCap Advisors LLC lifted its holdings in shares of Bank of Nova Scotia by 1,366.7% in the 2nd quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock worth $38,000 after acquiring an additional 410 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BNS has been the subject of a number of research reports. National Bank Financial raised shares of Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, August 26th. Keefe, Bruyette & Woods initiated coverage on shares of Bank of Nova Scotia in a research note on Friday, August 21st. They issued an “outperform” rating for the company. Royal Bank Of Canada upped their price target on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research report on Thursday, May 28th. Weiss Ratings cut Bank of Nova Scotia from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, August 18th. Finally, TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, August 25th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $117.00.

Bank of Nova Scotia Trading Down 0.9%

NYSE BNS opened at $91.57 on Tuesday. The firm has a market capitalization of $111.61 billion, a PE ratio of 16.57, a P/E/G ratio of 1.05 and a beta of 1.11. The stock’s 50 day moving average is $88.23 and its 200 day moving average is $80.26. Bank of Nova Scotia has a twelve month low of $61.69 and a twelve month high of $94.96. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.98.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, August 25th. The bank reported $1.64 EPS for the quarter, beating the consensus estimate of $1.53 by $0.11. Bank of Nova Scotia had a return on equity of 16.12% and a net margin of 13.91%.The business had revenue of $7.52 billion during the quarter, compared to analyst estimates of $7.11 billion. During the same quarter last year, the firm posted $1.84 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts forecast that Bank of Nova Scotia will post 6.14 earnings per share for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Tuesday, October 6th will be paid a dividend of $1.14 per share. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $4.56 annualized dividend and a yield of 5.0%. Bank of Nova Scotia’s payout ratio is presently 58.05%.

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.