Adero Partners LLC Makes New Investment in The Bank of Nova Scotia (NYSE:BNS)

Adero Partners LLC purchased a new position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the third quarter, HoldingsChannel reports. The fund purchased 3,759 shares of the bank’s stock, valued at approximately $205,000.

Other large investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its stake in shares of Bank of Nova Scotia by 50.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 11,563 shares of the bank’s stock worth $599,000 after purchasing an additional 3,884 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Bank of Nova Scotia by 65.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 42,028 shares of the bank’s stock worth $2,121,000 after purchasing an additional 16,700 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Bank of Nova Scotia by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 47,862,189 shares of the bank’s stock worth $2,478,304,000 after purchasing an additional 891,157 shares in the last quarter. Bessemer Group Inc. raised its stake in Bank of Nova Scotia by 177.4% in the 1st quarter. Bessemer Group Inc. now owns 40,714 shares of the bank’s stock valued at $2,106,000 after acquiring an additional 26,036 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its stake in Bank of Nova Scotia by 6.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 945,632 shares of the bank’s stock valued at $49,023,000 after acquiring an additional 61,303 shares during the period. Institutional investors and hedge funds own 49.13% of the company’s stock.

Analyst Upgrades and Downgrades

BNS has been the subject of a number of research analyst reports. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Cibc World Mkts raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $69.00.

Bank of Nova Scotia Stock Up 0.2 %

Shares of NYSE BNS opened at $53.93 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61. The company has a market cap of $67.11 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.60 and a beta of 1.05. The Bank of Nova Scotia has a 12 month low of $41.80 and a 12 month high of $55.12. The stock has a 50-day moving average price of $52.97 and a two-hundred day moving average price of $49.12.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, August 27th. The bank reported $1.63 earnings per share (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 company had revenue of $8.36 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, analysts forecast that The Bank of Nova Scotia will post 4.79 earnings per share for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd were issued a $0.768 dividend. This represents a $3.07 annualized dividend and a yield of 5.70%. The ex-dividend date of this dividend was Wednesday, October 2nd. Bank of Nova Scotia’s payout ratio is presently 74.88%.

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.