Manitou Investment Management Ltd. Buys 210 Shares of Bank of Nova Scotia (NYSE:BNS)

Manitou Investment Management Ltd. grew its stake in Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,838 shares of the bank’s stock after purchasing an additional 210 shares during the period. Bank of Nova Scotia makes up approximately 0.1% of Manitou Investment Management Ltd.’s holdings, making the stock its 29th largest holding. Manitou Investment Management Ltd.’s holdings in Bank of Nova Scotia were worth $502,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Flinton Capital Management LLC grew its position in Bank of Nova Scotia by 17.2% during the 2nd quarter. Flinton Capital Management LLC now owns 13,160 shares of the bank’s stock worth $679,000 after acquiring an additional 1,932 shares during the last quarter. Capital Investment Advisors LLC bought a new stake in Bank of Nova Scotia during the 2nd quarter worth approximately $206,000. Cardinal Capital Management Inc. grew its position in Bank of Nova Scotia by 0.8% during the 2nd quarter. Cardinal Capital Management Inc. now owns 982,383 shares of the bank’s stock worth $52,771,000 after acquiring an additional 7,600 shares during the last quarter. CIBC Asset Management Inc grew its position in Bank of Nova Scotia by 10.1% during the 3rd quarter. CIBC Asset Management Inc now owns 7,356,996 shares of the bank’s stock worth $417,933,000 after acquiring an additional 674,547 shares during the last quarter. Finally, Fiera Capital Corp grew its position in Bank of Nova Scotia by 2.8% during the 2nd quarter. Fiera Capital Corp now owns 6,320,580 shares of the bank’s stock worth $339,563,000 after acquiring an additional 171,426 shares during the last quarter. Institutional investors own 46.05% of the company’s stock.

NYSE:BNS traded down $0.16 during trading hours on Friday, hitting $57.83. 388,051 shares of the stock were exchanged, compared to its average volume of 780,411. The company’s 50 day moving average is $57.04 and its two-hundred day moving average is $54.24. Bank of Nova Scotia has a twelve month low of $48.34 and a twelve month high of $58.22. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $70.50 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 1.86 and a beta of 1.18.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Tuesday, August 27th. The bank reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.04. Bank of Nova Scotia had a return on equity of 13.53% and a net margin of 18.32%. The company had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.86 billion. During the same quarter in the prior year, the business posted $1.76 EPS. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. On average, equities research analysts expect that Bank of Nova Scotia will post 5.39 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Tuesday, October 1st were given a $0.682 dividend. The ex-dividend date was Monday, September 30th. This represents a $2.73 dividend on an annualized basis and a dividend yield of 4.72%. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.65. Bank of Nova Scotia’s dividend payout ratio is currently 50.00%.

A number of research firms recently commented on BNS. ValuEngine lowered Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. BMO Capital Markets reduced their price objective on Bank of Nova Scotia from $80.00 to $78.00 and set an “outperform” rating on the stock in a report on Wednesday, August 28th. Credit Suisse Group upped their price objective on Bank of Nova Scotia from $73.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $62.00 in a report on Tuesday, September 24th. Finally, Zacks Investment Research downgraded Bank of Nova Scotia from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $74.29.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company 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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