The Bank of Nova Scotia (NYSE:BNS) Shares Acquired by Oppenheimer & Co. Inc.

Posted by Defense World Staff on Feb 25th, 2023

Oppenheimer & Co. Inc. grew its stake in The Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) by 4.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,241 shares of the bank’s stock after purchasing an additional 424 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Bank of Nova Scotia were worth $488,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of BNS. CenterBook Partners LP grew its position in shares of Bank of Nova Scotia by 356.8% during the 3rd quarter. CenterBook Partners LP now owns 137,945 shares of the bank’s stock valued at $6,562,000 after buying an additional 107,748 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Bank of Nova Scotia by 76.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 22,048 shares of the bank’s stock valued at $1,049,000 after buying an additional 9,580 shares during the last quarter. Ontario Teachers Pension Plan Board grew its position in shares of Bank of Nova Scotia by 55.3% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 12,165 shares of the bank’s stock valued at $578,000 after buying an additional 4,334 shares during the last quarter. Sigma Planning Corp grew its position in shares of Bank of Nova Scotia by 7.6% during the 3rd quarter. Sigma Planning Corp now owns 4,416 shares of the bank’s stock valued at $210,000 after buying an additional 312 shares during the last quarter. Finally, Credit Suisse AG grew its position in shares of Bank of Nova Scotia by 5.9% during the 3rd quarter. Credit Suisse AG now owns 2,174,695 shares of the bank’s stock valued at $103,450,000 after buying an additional 121,809 shares during the last quarter. Institutional investors and hedge funds own 45.19% of the company’s stock.

Bank of Nova Scotia Stock Performance

Shares of BNS opened at $52.44 on Friday. The company’s fifty day moving average is $51.77 and its 200-day moving average is $52.08. The Bank of Nova Scotia has a 12 month low of $45.26 and a 12 month high of $74.82. The firm has a market cap of $62.50 billion, a price-to-earnings ratio of 8.40, a price-to-earnings-growth ratio of 1.99 and a beta of 1.01. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.46.

Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) last posted its earnings results on Tuesday, November 29th. The bank reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.06. Bank of Nova Scotia had a net margin of 21.26% and a return on equity of 15.54%. The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $6.21 billion. Equities analysts expect that The Bank of Nova Scotia will post 6.11 EPS for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 27th. Shareholders of record on Wednesday, January 4th were issued a $0.756 dividend. This represents a $3.02 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date of this dividend was Tuesday, January 3rd. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 48.72%.

Analyst Upgrades and Downgrades

Separately, Scotiabank decreased their price objective on shares of Bank of Nova Scotia from C$83.50 to C$81.50 and set a “sector perform” rating for the company in a report on Wednesday, November 30th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $89.77.

About Bank of Nova Scotia

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The Bank of Nova Scotia engages in the provision of financial products and services including personal, commercial, corporate, and investment banking. It operates through the following segments: Canadian Banking, International Banking, Global Wealth Management, Global Banking and Markets, and Other. The Other segment includes group treasury and smaller operating segments.