Triasima Portfolio Management inc. Has $6.85 Million Stock Holdings in Bank of Nova Scotia (The) $BNS

Triasima Portfolio Management inc. raised its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 65.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 105,882 shares of the bank’s stock after acquiring an additional 41,692 shares during the period. Triasima Portfolio Management inc.’s holdings in Bank of Nova Scotia were worth $6,848,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in BNS. JCIC Asset Management Inc. bought a new stake in shares of Bank of Nova Scotia in the third quarter valued at approximately $255,000. Sequoia Financial Advisors LLC raised its stake in Bank of Nova Scotia by 47.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,317 shares of the bank’s stock valued at $861,000 after purchasing an additional 4,315 shares during the last quarter. Maryland State Retirement & Pension System grew its position in Bank of Nova Scotia by 8.2% in the 3rd quarter. Maryland State Retirement & Pension System now owns 203,112 shares of the bank’s stock worth $13,130,000 after purchasing an additional 15,405 shares during the last quarter. Gold Investment Management Ltd. increased its holdings in shares of Bank of Nova Scotia by 2.2% during the 3rd quarter. Gold Investment Management Ltd. now owns 145,611 shares of the bank’s stock worth $9,417,000 after purchasing an additional 3,127 shares during the period. Finally, ASR Vermogensbeheer N.V. raised its position in shares of Bank of Nova Scotia by 1.6% during the third quarter. ASR Vermogensbeheer N.V. now owns 36,686 shares of the bank’s stock valued at $2,373,000 after buying an additional 591 shares during the last quarter. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Stock Down 0.0%

NYSE BNS opened at $73.46 on Tuesday. Bank of Nova Scotia has a 1-year low of $44.09 and a 1-year high of $74.97. The company has a market capitalization of $90.69 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 0.96 and a beta of 1.11. The stock’s 50 day moving average is $71.25 and its two-hundred day moving average is $64.56. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.70.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Tuesday, December 2nd. The bank reported $1.39 EPS for the quarter, beating the consensus estimate of $1.33 by $0.06. The business had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.85 billion. Bank of Nova Scotia had a return on equity of 12.10% and a net margin of 10.60%.Bank of Nova Scotia’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.57 EPS. Equities analysts forecast that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Tuesday, January 6th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, January 6th. This represents a $4.40 annualized dividend and a dividend yield of 6.0%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 79.85%.

Wall Street Analyst Weigh In

BNS has been the topic of a number of recent research reports. Raymond James Financial initiated coverage on Bank of Nova Scotia in a research report on Tuesday, November 25th. They set an “outperform” rating on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Bank of Nova Scotia in a report on Monday, December 29th. Finally, Royal Bank Of Canada upped their target price on Bank of Nova Scotia from $86.00 to $97.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 3rd. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of “Hold” and a consensus target price of $97.00.

About Bank of Nova Scotia

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.