Cumberland Partners Ltd Buys 247,829 Shares of Bank of Nova Scotia (The) $BNS

Cumberland Partners Ltd increased its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 560.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 292,060 shares of the bank’s stock after acquiring an additional 247,829 shares during the quarter. Bank of Nova Scotia accounts for 1.2% of Cumberland Partners Ltd’s portfolio, making the stock its 24th largest holding. Cumberland Partners Ltd’s holdings in Bank of Nova Scotia were worth $18,881,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Motco raised its position in shares of Bank of Nova Scotia by 1.2% in the 3rd quarter. Motco now owns 14,832 shares of the bank’s stock valued at $959,000 after buying an additional 181 shares in the last quarter. Pacifica Partners Inc. increased its stake in Bank of Nova Scotia by 1.0% in the third quarter. Pacifica Partners Inc. now owns 18,998 shares of the bank’s stock valued at $1,227,000 after acquiring an additional 190 shares during the last quarter. Addison Advisors LLC raised its position in Bank of Nova Scotia by 6.5% during the second quarter. Addison Advisors LLC now owns 3,275 shares of the bank’s stock valued at $181,000 after purchasing an additional 199 shares in the last quarter. Cohen Investment Advisors LLC lifted its stake in Bank of Nova Scotia by 3.1% during the third quarter. Cohen Investment Advisors LLC now owns 7,236 shares of the bank’s stock worth $468,000 after purchasing an additional 218 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Bank of Nova Scotia by 4.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 6,039 shares of the bank’s stock valued at $334,000 after purchasing an additional 235 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Performance

Bank of Nova Scotia stock opened at $75.99 on Thursday. The business has a 50 day moving average of $74.24 and a 200-day moving average of $67.59. The company has a market capitalization of $93.67 billion, a P/E ratio of 18.90, a P/E/G ratio of 0.98 and a beta of 1.11. Bank of Nova Scotia has a 1 year low of $44.09 and a 1 year high of $78.28. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.04 and a quick ratio of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Tuesday, December 2nd. The bank reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. The firm had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.85 billion. Bank of Nova Scotia had a net margin of 10.60% and a return on equity of 12.10%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.57 EPS. On average, equities research analysts predict that Bank of Nova Scotia will post 4.91 earnings per share for the current year.

Bank of Nova Scotia Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Tuesday, January 6th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Tuesday, January 6th. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 79.85%.

Analyst Ratings Changes

A number of research firms have recently commented on BNS. Raymond James Financial started coverage on Bank of Nova Scotia in a report on Tuesday, November 25th. They set an “outperform” rating for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Bank of Nova Scotia in a research note on Monday, December 29th. Finally, Royal Bank Of Canada raised their price target on shares of Bank of Nova Scotia from $86.00 to $97.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 3rd. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Bank of Nova Scotia has a consensus rating of “Hold” and an average target price of $97.00.

Bank of Nova Scotia Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.