The Bank of Nova Scotia (NYSE:BNS) Shares Bought by Addison Advisors LLC

Addison Advisors LLC lifted its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 7.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,357 shares of the bank’s stock after purchasing an additional 227 shares during the period. Addison Advisors LLC’s holdings in Bank of Nova Scotia were worth $183,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Alan B Lancz & Associates Inc. acquired a new position in Bank of Nova Scotia during the third quarter worth approximately $213,000. Sigma Planning Corp grew its position in shares of Bank of Nova Scotia by 1.9% during the third quarter. Sigma Planning Corp now owns 11,089 shares of the bank’s stock worth $604,000 after acquiring an additional 210 shares during the last quarter. Executive Wealth Management LLC acquired a new position in shares of Bank of Nova Scotia in the 3rd quarter valued at $619,000. Fiera Capital Corp raised its position in Bank of Nova Scotia by 326.7% in the 3rd quarter. Fiera Capital Corp now owns 80,956 shares of the bank’s stock valued at $4,417,000 after purchasing an additional 61,982 shares during the last quarter. Finally, Gold Investment Management Ltd. boosted its stake in Bank of Nova Scotia by 16.6% during the 3rd quarter. Gold Investment Management Ltd. now owns 129,335 shares of the bank’s stock worth $7,044,000 after purchasing an additional 18,398 shares during the period. 49.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BNS has been the subject of a number of research reports. Cibc World Mkts raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th. TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $69.00.

Bank of Nova Scotia Stock Up 0.2 %

Shares of NYSE BNS opened at $54.06 on Tuesday. The stock has a market capitalization of $66.90 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 1.60 and a beta of 1.05. The Bank of Nova Scotia has a 52 week low of $41.80 and a 52 week high of $55.12. The firm has a 50-day moving average price of $52.62 and a 200 day moving average price of $48.85. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.61.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, August 27th. The bank reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.01. The firm had revenue of $8.36 billion during the quarter, compared to analysts’ expectations of $8.53 billion. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. 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 firm posted $1.30 earnings per share. Equities research analysts anticipate that The Bank of Nova Scotia will post 4.79 EPS for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd were issued a dividend of $0.768 per share. This represents a $3.07 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date of this dividend was Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 74.88%.

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.