Jupiter Topco LLC Acquires New Position in Bank of Nova Scotia (The) $BNS

Jupiter Topco LLC acquired a new stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 117,681 shares of the bank’s stock, valued at approximately $10,220,000.

A number of other hedge funds have also added to or reduced their stakes in BNS. AQR Capital Management LLC raised its stake in shares of Bank of Nova Scotia by 111.2% during the first quarter. AQR Capital Management LLC now owns 19,096 shares of the bank’s stock valued at $911,000 after acquiring an additional 10,056 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Bank of Nova Scotia in the second quarter worth approximately $330,000. EverSource Wealth Advisors LLC grew its stake in Bank of Nova Scotia by 42.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,165 shares of the bank’s stock worth $120,000 after purchasing an additional 649 shares in the last quarter. Sei Investments Co. increased its holdings in Bank of Nova Scotia by 2.1% during the 2nd quarter. Sei Investments Co. now owns 21,212 shares of the bank’s stock worth $1,172,000 after purchasing an additional 434 shares during the period. Finally, Quantinno Capital Management LP increased its holdings in Bank of Nova Scotia by 61.1% during the 2nd quarter. Quantinno Capital Management LP now owns 66,962 shares of the bank’s stock worth $3,701,000 after purchasing an additional 25,400 shares during the period. 49.13% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Trading Down 0.6%

BNS opened at $92.35 on Friday. The firm has a market cap of $112.56 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 1.06 and a beta of 1.11. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.98. Bank of Nova Scotia has a 12 month low of $61.69 and a 12 month high of $94.96. The stock has a fifty day moving average price of $88.14 and a 200-day moving average price of $80.15.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. Bank of Nova Scotia had a return on equity of 16.12% and a net margin of 13.91%.The firm had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $7.13 billion. During the same period in the prior year, the business posted $1.52 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, equities research analysts anticipate that Bank of Nova Scotia will post 6.14 earnings per share for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Tuesday, October 6th will be given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, October 6th. Bank of Nova Scotia’s dividend payout ratio is presently 58.05%.

Analyst Ratings Changes

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

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.