Pathway Financial Advisers LLC Acquires 3,899,760 Shares of The Bank of Nova Scotia (NYSE:BNS)

Pathway Financial Advisers LLC raised its holdings in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 5,380.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,972,234 shares of the bank's stock after acquiring an additional 3,899,760 shares during the period. Bank of Nova Scotia comprises approximately 2.1% of Pathway Financial Advisers LLC's portfolio, making the stock its 17th biggest holding. Pathway Financial Advisers LLC owned about 0.32% of Bank of Nova Scotia worth $216,447,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Bank of Nova Scotia in the 2nd quarter worth $120,463,000. 1832 Asset Management L.P. boosted its stake in shares of Bank of Nova Scotia by 16.1% during the 1st quarter. 1832 Asset Management L.P. now owns 17,015,877 shares of the bank's stock valued at $881,082,000 after purchasing an additional 2,361,136 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Bank of Nova Scotia by 17.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,563,337 shares of the bank's stock valued at $753,658,000 after buying an additional 2,178,633 shares during the period. Nicola Wealth Management LTD. purchased a new stake in Bank of Nova Scotia in the first quarter worth about $77,670,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Bank of Nova Scotia by 2,455.8% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,521,906 shares of the bank's stock worth $69,627,000 after acquiring an additional 1,462,360 shares during the period. 49.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BNS has been the topic of several research reports. UBS Group initiated coverage on Bank of Nova Scotia in a research report on Tuesday, July 2nd. They set a "neutral" rating on the stock. Cibc World Mkts upgraded shares of Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $69.00.

Bank of Nova Scotia Stock Performance

NYSE:BNS traded up $0.04 during mid-day trading on Wednesday, reaching $52.26. The company's stock had a trading volume of 2,768,631 shares, compared to its average volume of 1,822,708. The firm's fifty day moving average price is $52.06 and its two-hundred day moving average price is $48.54. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61. The stock has a market cap of $64.67 billion, a P/E ratio of 12.50, a PEG ratio of 1.64 and a beta of 1.05. The Bank of Nova Scotia has a 12-month low of $40.21 and a 12-month high of $55.12.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last issued its earnings results 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. The company had revenue of $8.36 billion for the quarter, compared to analysts' expectations of $8.53 billion. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The firm's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company posted $1.30 earnings per share. On average, equities analysts forecast that The Bank of Nova Scotia will post 4.8 EPS for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd were issued a $0.768 dividend. This represents a $3.07 annualized dividend and a dividend yield of 5.88%. The ex-dividend date was Wednesday, October 2nd. Bank of Nova Scotia's payout ratio is currently 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.