Artemis Investment Management LLP Invests $8.96 Million in Bank of Nova Scotia (BNS)

Artemis Investment Management LLP bought a new stake in shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 150,500 shares of the bank’s stock, valued at approximately $8,964,000.

Other large investors also recently bought and sold shares of the company. Advisors Asset Management Inc. grew its holdings in shares of Bank of Nova Scotia by 1,995.0% during the second quarter. Advisors Asset Management Inc. now owns 19,002 shares of the bank’s stock valued at $152,000 after purchasing an additional 18,095 shares during the last quarter. Zions Bancorporation bought a new position in shares of Bank of Nova Scotia during the third quarter valued at approximately $160,000. BNP Paribas Arbitrage SA bought a new position in shares of Bank of Nova Scotia during the second quarter valued at approximately $200,000. CAPROCK Group Inc. bought a new position in shares of Bank of Nova Scotia during the third quarter valued at approximately $200,000. Finally, Capital Investment Advisors LLC bought a new position in shares of Bank of Nova Scotia during the third quarter valued at approximately $206,000. 46.42% of the stock is owned by institutional investors.

Several equities analysts have recently commented on the company. Zacks Investment Research lowered Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Friday, November 9th. Barclays reissued an “average” rating and issued a $85.00 price objective on shares of Bank of Nova Scotia in a report on Friday, November 16th. TD Securities reissued a “buy” rating on shares of Bank of Nova Scotia in a report on Monday. Desjardins reissued an “average” rating and issued a $85.00 price objective on shares of Bank of Nova Scotia in a report on Thursday, November 8th. Finally, Canaccord Genuity lowered Bank of Nova Scotia from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $81.00.

Shares of BNS stock opened at $53.08 on Friday. Bank of Nova Scotia has a 12-month low of $52.09 and a 12-month high of $66.78. The company has a market capitalization of $64.19 billion, a P/E ratio of 10.13, a price-to-earnings-growth ratio of 1.47 and a beta of 1.25. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.07 and a quick ratio of 1.07.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, August 28th. The bank reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.39. Bank of Nova Scotia had a return on equity of 14.62% and a net margin of 21.55%. The business had revenue of $7.18 billion during the quarter, compared to analyst estimates of $7.34 billion. During the same period in the prior year, the company posted $1.66 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts forecast that Bank of Nova Scotia will post 5.29 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 29th. Investors of record on Tuesday, October 2nd were issued a $0.6539 dividend. This represents a $2.62 dividend on an annualized basis and a yield of 4.93%. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Monday, October 1st. Bank of Nova Scotia’s dividend payout ratio is 50.19%.

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About Bank of Nova Scotia

The Bank of Nova Scotia provides various financial services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. It offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

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Institutional Ownership by Quarter for Bank of Nova Scotia (NYSE:BNS)

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