Cumberland Partners Ltd Raises Holdings in The Bank of Nova Scotia (NYSE:BNS)

Cumberland Partners Ltd boosted its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 0.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 76,030 shares of the bank’s stock after acquiring an additional 451 shares during the quarter. Cumberland Partners Ltd’s holdings in Bank of Nova Scotia were worth $4,147,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mather Group LLC. increased its holdings in 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 period. Blue Trust Inc. grew its holdings in Bank of Nova Scotia by 3,127.8% in the second quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock worth $27,000 after purchasing an additional 563 shares during the last quarter. Headlands Technologies LLC purchased a new position in Bank of Nova Scotia in the first quarter worth $53,000. City State Bank purchased a new position in Bank of Nova Scotia in the third quarter worth $57,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Bank of Nova Scotia by 102.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,605 shares of the bank’s stock worth $83,000 after purchasing an additional 811 shares during the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BNS shares. 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. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $69.00.

Bank of Nova Scotia Stock Performance

Shares of NYSE:BNS traded down $0.24 on Tuesday, hitting $53.82. 112,054 shares of the company were exchanged, compared to its average volume of 1,795,437. The Bank of Nova Scotia has a 1-year low of $41.80 and a 1-year high of $55.12. The stock’s 50 day moving average price is $52.71 and its 200 day moving average price is $48.90. 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 firm has a market capitalization of $66.61 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 1.60 and a beta of 1.05.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Tuesday, August 27th. The bank reported $1.63 EPS 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 business had revenue of $8.36 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same period in the previous year, the firm posted $1.30 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Sell-side analysts predict that The Bank of Nova Scotia will post 4.79 EPS for the current year.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd were given a dividend of $0.768 per share. 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 5.71%. Bank of Nova Scotia’s dividend 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.