Dimensional Fund Advisors LP Buys 279,872 Shares of The Bank of Nova Scotia (NYSE:BNS)

Dimensional Fund Advisors LP raised its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 5.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,614,177 shares of the bank’s stock after purchasing an additional 279,872 shares during the quarter. Dimensional Fund Advisors LP owned 0.47% of Bank of Nova Scotia worth $280,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Endurance Wealth Management Inc. lifted its holdings in shares of Bank of Nova Scotia by 1,190.5% in the 1st quarter. Endurance Wealth Management Inc. now owns 542 shares of the bank’s stock worth $27,000 after acquiring an additional 500 shares during the last quarter. WealthPlan Investment Management LLC bought a new stake in shares of Bank of Nova Scotia in the 2nd quarter worth approximately $82,000. HBC Financial Services PLLC bought a new stake in shares of Bank of Nova Scotia in the 1st quarter worth approximately $30,000. Mcmillion Capital Management Inc. bought a new stake in shares of Bank of Nova Scotia in the 2nd quarter worth approximately $42,000. Finally, CWM LLC increased its stake in shares of Bank of Nova Scotia by 150.8% in the first quarter. CWM LLC now owns 1,377 shares of the bank’s stock worth $69,000 after buying an additional 828 shares during the period. 43.18% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Stock Up 0.6 %

Shares of Bank of Nova Scotia stock opened at $44.21 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.55. The company’s fifty day simple moving average is $44.13 and its two-hundred day simple moving average is $47.14. The company has a market cap of $53.28 billion, a P/E ratio of 9.29, a PEG ratio of 1.99 and a beta of 1.02. The Bank of Nova Scotia has a 12-month low of $39.79 and a 12-month high of $55.91.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, August 29th. The bank reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.45. Bank of Nova Scotia had a net margin of 12.25% and a return on equity of 13.31%. The business had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $8.16 billion. During the same period in the previous year, the firm earned $1.63 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Research analysts anticipate that The Bank of Nova Scotia will post 5.13 EPS for the current year.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Tuesday, October 3rd were issued a dividend of $0.7801 per share. The ex-dividend date was Friday, September 29th. This represents a $3.12 annualized dividend and a dividend yield of 7.06%. Bank of Nova Scotia’s payout ratio is 65.55%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BNS shares. Barclays lifted their target price on shares of Bank of Nova Scotia from $63.00 to $65.00 and gave the stock an “underweight” rating in a research note on Monday, August 21st. StockNews.com downgraded shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Finally, Scotiabank decreased their target price on shares of Bank of Nova Scotia from $68.00 to $66.00 and set a “hold” rating on the stock in a research note on Wednesday, August 30th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $69.33.

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 in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.