Bank of Nova Scotia (The) (BNS) Stake Raised by Cumberland Partners Ltd

Cumberland Partners Ltd grew its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,523 shares of the bank’s stock after acquiring an additional 1,000 shares during the quarter. Cumberland Partners Ltd’s holdings in Bank of Nova Scotia (The) were worth $6,893,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in BNS. Nomura Asset Management Co. Ltd. raised its stake in shares of Bank of Nova Scotia (The) by 176.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 29,019 shares of the bank’s stock valued at $1,695,000 after acquiring an additional 18,519 shares during the period. New England Research & Management Inc. raised its stake in shares of Bank of Nova Scotia (The) by 1.3% in the second quarter. New England Research & Management Inc. now owns 5,700 shares of the bank’s stock valued at $343,000 after acquiring an additional 75 shares during the period. Pennsylvania Trust Co raised its stake in shares of Bank of Nova Scotia (The) by 12.6% in the second quarter. Pennsylvania Trust Co now owns 13,230 shares of the bank’s stock valued at $831,000 after acquiring an additional 1,485 shares during the period. Creative Planning raised its stake in shares of Bank of Nova Scotia (The) by 7.8% in the second quarter. Creative Planning now owns 14,383 shares of the bank’s stock valued at $865,000 after acquiring an additional 1,044 shares during the period. Finally, Nexus Investment Management Inc. raised its stake in shares of Bank of Nova Scotia (The) by 0.5% in the second quarter. Nexus Investment Management Inc. now owns 567,659 shares of the bank’s stock valued at $34,109,000 after acquiring an additional 3,050 shares during the period. 46.48% of the stock is currently owned by institutional investors and hedge funds.

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Several equities research analysts have recently weighed in on the stock. BidaskClub downgraded shares of Bank of Nova Scotia (The) from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Zacks Investment Research downgraded shares of Bank of Nova Scotia (The) from a “buy” rating to a “sell” rating in a research note on Tuesday. Macquarie assumed coverage on shares of Bank of Nova Scotia (The) in a research note on Tuesday, October 24th. They issued an “outperform” rating on the stock. Citigroup Inc. raised shares of Bank of Nova Scotia (The) from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 20th. Finally, Canaccord Genuity set a $87.00 target price on shares of Bank of Nova Scotia (The) and gave the company a “buy” rating in a research note on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. Bank of Nova Scotia (The) has an average rating of “Buy” and a consensus target price of $83.20.

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, August 29th. The bank reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.38). The company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Bank of Nova Scotia (The) had a net margin of 22.26% and a return on equity of 14.54%. During the same quarter last year, the firm posted $1.54 earnings per share.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Tuesday, October 3rd were issued a $0.6294 dividend. This is a positive change from Bank of Nova Scotia (The)’s previous quarterly dividend of $0.56. This represents a $2.52 annualized dividend and a yield of 3.85%. The ex-dividend date was Monday, October 2nd. Bank of Nova Scotia (The)’s payout ratio is 50.62%.

About Bank of Nova Scotia (The)

The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

Institutional Ownership by Quarter for Bank of Nova Scotia (The) (NYSE:BNS)

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