Montrusco Bolton Investments Inc. Sells 20,688 Shares of Bank of Nova Scotia (The) $BNS

Montrusco Bolton Investments Inc. cut its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 6.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 284,891 shares of the bank’s stock after selling 20,688 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Bank of Nova Scotia were worth $25,968,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc grew its position in shares of Bank of Nova Scotia by 1.2% in the third quarter. Versant Capital Management Inc now owns 10,460 shares of the bank’s stock valued at $950,000 after purchasing an additional 119 shares during the last quarter. Riversedge Advisors LLC lifted its holdings in Bank of Nova Scotia by 4.6% during the 3rd quarter. Riversedge Advisors LLC now owns 2,825 shares of the bank’s stock worth $257,000 after purchasing an additional 125 shares during the last quarter. Greenspring Advisors LLC boosted its stake in Bank of Nova Scotia by 7.9% in the 2nd quarter. Greenspring Advisors LLC now owns 3,778 shares of the bank’s stock valued at $328,000 after purchasing an additional 275 shares during the period. Kathmere Capital Management LLC boosted its stake in Bank of Nova Scotia by 8.5% in the 1st quarter. Kathmere Capital Management LLC now owns 3,579 shares of the bank’s stock valued at $248,000 after purchasing an additional 281 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Bank of Nova Scotia by 1.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 21,386 shares of the bank’s stock valued at $1,482,000 after purchasing an additional 294 shares during the period. Institutional investors own 49.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BNS. Keefe, Bruyette & Woods assumed coverage on shares of Bank of Nova Scotia in a research report on Friday, August 21st. They issued an “outperform” rating for the company. Weiss Ratings upgraded shares of Bank of Nova Scotia from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday. National Bank Financial raised shares of Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a report on Wednesday, August 26th. TD upgraded shares of Bank of Nova Scotia to a “buy” rating in a research report on Wednesday, August 26th. Finally, TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.50.

Bank of Nova Scotia Price Performance

Shares of BNS traded up $1.46 during trading hours on Tuesday, hitting $90.25. 2,173,737 shares of the company were exchanged, compared to its average volume of 2,341,660. The company has a market cap of $109.82 billion, a price-to-earnings ratio of 16.33, a P/E/G ratio of 0.99 and a beta of 1.14. Bank of Nova Scotia has a fifty-two week low of $62.98 and a fifty-two week high of $95.74. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.98. The firm’s fifty day moving average is $91.28 and its 200 day moving average is $84.40.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Tuesday, August 25th. The bank reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.11. The business had revenue of $7.52 billion during the quarter, compared to the consensus estimate of $7.11 billion. Bank of Nova Scotia had a return on equity of 16.12% and a net margin of 13.91%. Bank of Nova Scotia’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 earnings per share. On average, equities analysts anticipate that Bank of Nova Scotia will post 6.19 earnings per share for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Tuesday, October 6th will be paid a C$1.14 dividend. This represents a $4.56 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, October 6th. Bank of Nova Scotia’s dividend payout ratio (DPR) is 57.87%.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian financial services company headquartered in Toronto, Ontario. Founded in 1832, it is one of Canada’s largest banks and provides a broad range of banking and financial services to individuals, businesses, institutions and governments.

Scotiabank’s principal activities include Canadian personal and commercial banking, wealth management, and global banking and markets. Its products and services include deposit accounts, residential mortgages, consumer and business loans, credit cards, investment and advisory services, foreign exchange, capital markets and corporate finance.

The bank serves customers across Canada and maintains international operations, particularly in Mexico, Peru, Chile and selected markets in the Caribbean and Central America.