Fiduciary Financial Group LLC Acquires 343 Shares of The Bank of Nova Scotia (NYSE:BNS)

Fiduciary Financial Group LLC raised its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 7.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,872 shares of the bank’s stock after purchasing an additional 343 shares during the period. Fiduciary Financial Group LLC’s holdings in Bank of Nova Scotia were worth $255,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Bank of Nova Scotia by 1.9% in the first quarter. Vanguard Group Inc. now owns 47,862,189 shares of the bank’s stock worth $2,478,304,000 after acquiring an additional 891,157 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of Bank of Nova Scotia by 16.1% during the 1st quarter. 1832 Asset Management L.P. now owns 17,015,877 shares of the bank’s stock valued at $881,082,000 after purchasing an additional 2,361,136 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Bank of Nova Scotia by 4.7% during the second quarter. Mackenzie Financial Corp now owns 15,091,880 shares of the bank’s stock valued at $690,438,000 after buying an additional 683,946 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Bank of Nova Scotia by 17.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,563,337 shares of the bank’s stock worth $753,658,000 after buying an additional 2,178,633 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Bank of Nova Scotia by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 9,281,724 shares of the bank’s stock valued at $424,497,000 after acquiring an additional 57,796 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Up 0.8 %

NYSE:BNS opened at $52.45 on Friday. The stock has a market cap of $64.91 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 1.64 and a beta of 1.05. 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 company’s 50 day moving average price is $50.37 and its 200-day moving average price is $48.31. 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 issued its earnings results on Tuesday, August 27th. The bank reported $1.63 EPS for the quarter, beating the consensus estimate of $1.62 by $0.01. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The business had revenue of $8.36 billion for the quarter, compared to the consensus estimate of $8.53 billion. During the same period last year, the business posted $1.30 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts forecast that The Bank of Nova Scotia will post 4.8 earnings per share for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be given a $0.768 dividend. This represents a $3.07 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date is Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio (DPR) is 74.88%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BNS. UBS Group assumed coverage on Bank of Nova Scotia in a research report on Tuesday, July 2nd. They issued a “neutral” rating for the company. 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 given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $69.00.

About Bank of Nova Scotia

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.