CIBC Asset Management Inc Boosts Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

CIBC Asset Management Inc increased its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 2.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,074,518 shares of the bank's stock after purchasing an additional 240,803 shares during the quarter. Bank of Nova Scotia accounts for 1.8% of CIBC Asset Management Inc's holdings, making the stock its 13th biggest holding. CIBC Asset Management Inc owned approximately 0.81% of Bank of Nova Scotia worth $550,729,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mather Group LLC. grew its position in Bank of Nova Scotia by 1,388.9% in the 2nd quarter. Mather Group LLC. now owns 536 shares of the bank's stock valued at $25,000 after acquiring an additional 500 shares during the last quarter. Blue Trust Inc. lifted its holdings in Bank of Nova Scotia by 3,127.8% during the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank's stock valued at $27,000 after buying an additional 563 shares in the last quarter. Headlands Technologies LLC bought a new position in Bank of Nova Scotia in the 1st quarter worth about $53,000. City State Bank purchased a new position in shares of Bank of Nova Scotia during the third quarter worth approximately $57,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Bank of Nova Scotia by 102.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,605 shares of the bank's stock valued at $83,000 after acquiring an additional 811 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company's stock.

Analyst Ratings Changes

BNS has been the subject of several research reports. Cibc World Mkts upgraded Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a report on Friday, September 20th. TD Securities upgraded 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 issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $69.00.

Bank of Nova Scotia Stock Performance

Shares of Bank of Nova Scotia stock traded up $0.02 on Friday, reaching $53.83. 513,087 shares of the stock were exchanged, compared to its average volume of 1,786,731. The Bank of Nova Scotia has a twelve month low of $41.80 and a twelve month high of $55.12. 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 firm has a market capitalization of $66.62 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 1.59 and a beta of 1.05. The business has a 50 day moving average price of $52.90 and a two-hundred day moving average price of $49.02.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last released its quarterly earnings data on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.01. The business had revenue of $8.36 billion during the quarter, compared to analyst estimates of $8.53 billion. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The company's revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $1.30 EPS. Analysts anticipate that The Bank of Nova Scotia will post 4.79 earnings per share for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd were paid a dividend of $0.768 per share. This represents a $3.07 annualized dividend and a dividend yield of 5.71%. The ex-dividend date of this dividend was Wednesday, October 2nd. Bank of Nova Scotia's payout ratio is 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.