Bank of Nova Scotia (The) $BNS Shares Acquired by Cidel Asset Management Inc.

Cidel Asset Management Inc. lifted its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 119.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 353,888 shares of the bank’s stock after buying an additional 192,388 shares during the quarter. Bank of Nova Scotia accounts for 1.5% of Cidel Asset Management Inc.’s portfolio, making the stock its 19th biggest holding. Cidel Asset Management Inc.’s holdings in Bank of Nova Scotia were worth $30,748,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Prospera Financial Services Inc boosted its position in shares of Bank of Nova Scotia by 3.9% during the 4th quarter. Prospera Financial Services Inc now owns 4,625 shares of the bank’s stock worth $341,000 after purchasing an additional 173 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Bank of Nova Scotia by 22.3% in the 4th quarter. Larson Financial Group LLC now owns 1,280 shares of the bank’s stock valued at $94,000 after purchasing an additional 233 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Bank of Nova Scotia by 8.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,193 shares of the bank’s stock valued at $235,000 after purchasing an additional 239 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Bank of Nova Scotia by 8.5% in the third quarter. Parallel Advisors LLC now owns 3,326 shares of the bank’s stock valued at $215,000 after purchasing an additional 261 shares during the period. Finally, Greenspring Advisors LLC lifted its stake in shares of Bank of Nova Scotia by 7.9% in the second quarter. Greenspring Advisors LLC now owns 3,778 shares of the bank’s stock valued at $328,000 after purchasing an additional 275 shares during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Wall Street Analysts Forecast Growth

BNS has been the topic of several recent analyst reports. Royal Bank Of Canada upped their target price on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 28th. National Bank Financial upgraded shares of Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 26th. TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, August 25th. Keefe, Bruyette & Woods started coverage on Bank of Nova Scotia in a report on Friday, August 21st. They issued an “outperform” rating on the stock. Finally, Weiss Ratings raised Bank of Nova Scotia from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $117.00.

Bank of Nova Scotia Stock Down 1.1%

BNS stock opened at $92.83 on Wednesday. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.04 and a quick ratio of 1.04. The company’s 50 day simple moving average is $89.07 and its 200-day simple moving average is $80.99. Bank of Nova Scotia has a 12 month low of $62.98 and a 12 month high of $95.34. The firm has a market capitalization of $113.14 billion, a PE ratio of 16.80, a P/E/G ratio of 1.05 and a beta of 1.12.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Tuesday, August 25th. The bank reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.11. The firm had revenue of $7.52 billion for the quarter, compared to analyst estimates of $7.11 billion. Bank of Nova Scotia had a return on equity of 16.12% and a net margin of 13.91%.Bank of Nova Scotia’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.84 EPS. Equities analysts expect that Bank of Nova Scotia will post 6.19 earnings per share for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Tuesday, October 6th will be paid a dividend of $1.14 per share. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 4.9%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 59.49%.

Bank of Nova Scotia Profile

The Bank of Nova Scotia, operating as Scotiabank, is a Canadian financial institution headquartered in Toronto, Ontario. Founded in Halifax in 1832, the bank provides banking and financial services to individuals, businesses, institutions and governments.

Scotiabank’s principal activities include Canadian personal and commercial banking, international banking, global wealth management, and global banking and markets. Its products and services include deposit accounts, mortgages, consumer and commercial loans, credit cards, investment products, financial planning, asset management, foreign exchange, capital markets services and corporate banking.

The bank serves customers across Canada and maintains international operations in Mexico, Peru, Chile, the Caribbean, Central America and other selected markets.