4,700 Shares in The Bank of Nova Scotia (NYSE:BNS) Acquired by Callahan Advisors LLC

Callahan Advisors LLC purchased a new position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,700 shares of the bank’s stock, valued at approximately $256,000.

Several other hedge funds have also recently added to or reduced their stakes in BNS. Pathway Financial Advisers LLC grew its position in Bank of Nova Scotia by 5,380.9% in the third quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank’s stock worth $216,447,000 after buying an additional 3,899,760 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Bank of Nova Scotia in the second quarter worth approximately $120,463,000. 1832 Asset Management L.P. grew its position in Bank of Nova Scotia by 16.1% in the first quarter. 1832 Asset Management L.P. now owns 17,015,877 shares of the bank’s stock worth $881,082,000 after buying an additional 2,361,136 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position 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 during the last quarter. Finally, Nicola Wealth Management LTD. acquired a new position in Bank of Nova Scotia in the first quarter worth approximately $77,670,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Up 0.2 %

NYSE BNS opened at $53.13 on Wednesday. The Bank of Nova Scotia has a twelve month low of $41.80 and a twelve month high of $55.12. 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 stock has a market cap of $65.75 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 1.54 and a beta of 1.05. The firm’s 50 day moving average price is $52.36 and its two-hundred day moving average price is $48.71.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.01. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The firm had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.53 billion. During the same period in the previous year, the company posted $1.30 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts anticipate that The Bank of Nova Scotia will post 4.8 EPS for the current 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 paid a dividend of $0.768 per share. This represents a $3.07 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date was Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 74.88%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BNS. Cibc World Mkts upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.