US Bancorp DE Raises Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

US Bancorp DE lifted its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 25.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,281 shares of the bank’s stock after buying an additional 17,232 shares during the period. US Bancorp DE’s holdings in Bank of Nova Scotia were worth $4,592,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BNS. 1620 Investment Advisors Inc. lifted its holdings in shares of Bank of Nova Scotia by 1,702.2% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 4,866 shares of the bank’s stock worth $265,000 after acquiring an additional 4,596 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in Bank of Nova Scotia by 1.1% in the 3rd quarter. Pinnacle Associates Ltd. now owns 27,800 shares of the bank’s stock valued at $1,515,000 after buying an additional 300 shares during the period. First Trust Direct Indexing L.P. boosted its position in Bank of Nova Scotia by 12.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 7,890 shares of the bank’s stock valued at $430,000 after buying an additional 878 shares during the period. Pathway Financial Advisers LLC raised its stake in shares of Bank of Nova Scotia by 5,380.9% during the third quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank’s stock valued at $216,447,000 after acquiring an additional 3,899,760 shares in the last quarter. Finally, Insight Folios Inc boosted its holdings in shares of Bank of Nova Scotia by 8.1% in the third quarter. Insight Folios Inc now owns 114,101 shares of the bank’s stock valued at $6,217,000 after purchasing an additional 8,522 shares during the period. 49.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BNS shares. TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday. 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 investment analysts have rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $69.00.

Bank of Nova Scotia Stock Performance

NYSE BNS opened at $53.04 on Tuesday. The firm has a market capitalization of $65.64 billion, a P/E ratio of 12.69, a PEG ratio of 1.63 and a beta of 1.05. The Bank of Nova Scotia has a fifty-two week low of $41.80 and a fifty-two week high of $55.12. The stock has a 50-day simple moving average of $52.30 and a two-hundred day simple moving average of $48.66. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.02.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.01. The company had revenue of $8.36 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.30 earnings per share. On average, equities analysts forecast that The Bank of Nova Scotia will post 4.8 earnings per share for the current year.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd were issued a $0.768 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $3.07 dividend on an annualized basis and a yield of 5.79%. Bank of Nova Scotia’s payout ratio is 74.88%.

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.