The Bank of Nova Scotia (NYSE:BNS) Holdings Raised by Dixon Mitchell Investment Counsel Inc.

Dixon Mitchell Investment Counsel Inc. boosted its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 743,141 shares of the bank’s stock after buying an additional 11,014 shares during the period. Bank of Nova Scotia accounts for 1.8% of Dixon Mitchell Investment Counsel Inc.’s portfolio, making the stock its 24th biggest holding. Dixon Mitchell Investment Counsel Inc. owned about 0.06% of Bank of Nova Scotia worth $40,536,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Mather Group LLC. lifted its stake in shares of Bank of Nova Scotia by 1,388.9% in the 2nd quarter. Mather Group LLC. now owns 536 shares of the bank’s stock worth $25,000 after acquiring an additional 500 shares during the period. Blue Trust Inc. lifted its position 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 period. Headlands Technologies LLC bought a new position in Bank of Nova Scotia during the 1st quarter valued at $53,000. City State Bank acquired a new position in shares of Bank of Nova Scotia during the 3rd quarter valued at $57,000. Finally, Galibier Capital Management Ltd. bought a new stake in shares of Bank of Nova Scotia in the 1st quarter worth $76,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

Shares of NYSE BNS opened at $53.54 on Friday. The stock’s fifty day simple moving average is $51.13 and its 200 day simple moving average is $48.40. The stock has a market capitalization of $65.83 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.64 and a beta of 1.05. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The Bank of Nova Scotia has a 52-week low of $39.79 and a 52-week high of $55.12.

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 (EPS) for the quarter, topping 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 firm had revenue of $8.36 billion for the quarter, compared to the consensus estimate of $8.53 billion. During the same quarter in the previous year, the company earned $1.30 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts forecast that The Bank of Nova Scotia will post 4.8 earnings per share for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be given a $0.768 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $3.07 dividend on an annualized basis and a yield of 5.74%. Bank of Nova Scotia’s payout ratio is 70.50%.

Analyst Ratings Changes

Several brokerages recently weighed in on BNS. Cibc World Mkts raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th. UBS Group began coverage on shares of Bank of Nova Scotia in a research report on Tuesday, July 2nd. They set a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $69.00.

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.