The Bank of Nova Scotia (NYSE:BNS) Shares Acquired by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC grew its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 5,380.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,972,234 shares of the bank’s stock after acquiring an additional 3,899,760 shares during the period. Bank of Nova Scotia comprises 1.4% of Pathway Financial Advisers LLC’s investment portfolio, making the stock its 22nd biggest holding. Pathway Financial Advisers LLC’s holdings in Bank of Nova Scotia were worth $216,447,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Bank of Nova Scotia in the second quarter valued at approximately $120,463,000. 1832 Asset Management L.P. grew its stake in shares of Bank of Nova Scotia by 16.1% in the first quarter. 1832 Asset Management L.P. now owns 17,015,877 shares of the bank’s stock valued at $881,082,000 after buying an additional 2,361,136 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Bank of Nova Scotia by 17.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,563,337 shares of the bank’s stock valued at $753,658,000 after buying an additional 2,178,633 shares during the period. Nicola Wealth Management LTD. acquired a new position in Bank of Nova Scotia during the 1st quarter worth about $77,670,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Bank of Nova Scotia by 2,455.8% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,521,906 shares of the bank’s stock valued at $69,627,000 after acquiring an additional 1,462,360 shares during the period. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Down 1.3 %

NYSE BNS traded down $0.66 during trading hours on Friday, hitting $51.78. 1,159,530 shares of the company were exchanged, compared to its average volume of 1,821,673. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The firm has a market cap of $63.67 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.64 and a beta of 1.05. The company has a 50 day moving average of $51.69 and a two-hundred day moving average of $48.47. The Bank of Nova Scotia has a 52-week low of $39.79 and a 52-week high of $55.12.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.01. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The firm had revenue of $8.36 billion for the quarter, compared to analyst estimates of $8.53 billion. During the same period in the prior year, the firm earned $1.30 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that The Bank of Nova Scotia will post 4.8 earnings per share for the current year.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.768 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $3.07 annualized dividend and a dividend yield of 5.93%. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 70.50%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. UBS Group initiated coverage on shares of Bank of Nova Scotia in a research note on Tuesday, July 2nd. They set a “neutral” rating on the stock. Cibc World Mkts upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, Bank of Nova Scotia currently has a consensus rating of “Hold” and an average price target of $69.00.

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 through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.