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

Pathway Financial Advisers LLC increased its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 5,380.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,972,234 shares of the bank’s stock after purchasing an additional 3,899,760 shares during the period. Bank of Nova Scotia accounts for approximately 1.4% of Pathway Financial Advisers LLC’s investment portfolio, making the stock its 22nd biggest position. Pathway Financial Advisers LLC owned approximately 0.32% of Bank of Nova Scotia worth $216,447,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mather Group LLC. raised its holdings in shares of Bank of Nova Scotia by 1,388.9% during the second quarter. Mather Group LLC. now owns 536 shares of the bank’s stock valued at $25,000 after acquiring an additional 500 shares during the last quarter. Blue Trust Inc. raised its stake in Bank of Nova Scotia by 3,127.8% in the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock valued at $27,000 after purchasing an additional 563 shares during the last quarter. Headlands Technologies LLC purchased a new position in Bank of Nova Scotia in the 1st quarter valued at $53,000. City State Bank acquired a new stake in Bank of Nova Scotia during the 3rd quarter worth $57,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Bank of Nova Scotia by 102.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,605 shares of the bank’s stock worth $83,000 after buying an additional 811 shares in the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Bank of Nova Scotia Trading Down 1.3 %

Shares of BNS stock traded down $0.66 on Friday, hitting $51.78. 1,159,530 shares of the stock traded hands, compared to its average volume of 1,821,673. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.02. The Bank of Nova Scotia has a twelve month low of $39.79 and a twelve month high of $55.12. The firm’s 50-day moving average price is $51.69 and its two-hundred day moving average price is $48.47. The stock has a market capitalization of $63.67 billion, a PE ratio of 11.66, a PEG ratio of 1.64 and a beta of 1.05.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.01. The company had revenue of $8.36 billion for the quarter, compared to analyst estimates of $8.53 billion. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. Bank of Nova Scotia’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 EPS. As a group, analysts anticipate that The Bank of Nova Scotia will post 4.8 EPS for the current year.

Bank of Nova Scotia Cuts Dividend

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

Bank of Nova Scotia 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.