Signaturefd LLC Increases Stake in The Bank of Nova Scotia (NYSE:BNS)

Signaturefd LLC increased its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,470 shares of the bank’s stock after purchasing an additional 216 shares during the quarter. Signaturefd LLC’s holdings in Bank of Nova Scotia were worth $1,006,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in BNS. Mather Group LLC. grew its stake 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 buying an additional 500 shares during the last quarter. Blue Trust Inc. boosted its holdings in Bank of Nova Scotia by 3,127.8% during the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock valued at $27,000 after acquiring an additional 563 shares during the period. Headlands Technologies LLC bought a new position in Bank of Nova Scotia during the 1st quarter worth approximately $53,000. City State Bank purchased a new position in Bank of Nova Scotia in the 3rd quarter worth approximately $57,000. Finally, Galibier Capital Management Ltd. bought a new stake in Bank of Nova Scotia in the first quarter valued at approximately $76,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

Shares of BNS stock opened at $52.41 on Thursday. 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 fifty-two week low of $39.79 and a fifty-two week high of $55.12. The firm has a market cap of $64.44 billion, a P/E ratio of 11.80, a P/E/G ratio of 1.64 and a beta of 1.05. The business’s 50 day moving average price is $51.57 and its 200-day moving average price is $48.44.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly 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 business had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.53 billion. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 earnings per share. On average, 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd will be given a dividend of $0.768 per share. This represents a $3.07 annualized dividend and a dividend yield of 5.86%. The ex-dividend date is Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio is currently 70.50%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. UBS Group initiated coverage on shares of Bank of Nova Scotia in a report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Hold” and a consensus target price 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.