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

Pathway Financial Advisers LLC increased its stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 5,380.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,972,234 shares of the bank's stock after buying an additional 3,899,760 shares during the quarter. Bank of Nova Scotia comprises approximately 2.1% of Pathway Financial Advisers LLC's holdings, making the stock its 17th largest holding. Pathway Financial Advisers LLC owned approximately 0.32% of Bank of Nova Scotia worth $216,447,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

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

Bank of Nova Scotia Trading Down 0.2 %

Shares of NYSE BNS traded down $0.11 during trading hours on Wednesday, reaching $52.11. The stock had a trading volume of 358,536 shares, compared to its average volume of 1,811,127. The Bank of Nova Scotia has a 52-week low of $40.21 and a 52-week high of $55.12. The firm has a market cap of $64.49 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 1.64 and a beta of 1.05. The business's fifty day moving average price is $51.96 and its two-hundred day moving average price is $48.51. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61.

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 for the quarter, topping the consensus estimate of $1.62 by $0.01. The business had revenue of $8.36 billion during the quarter, compared to analysts' expectations of $8.53 billion. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The business's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 EPS. Analysts expect that The Bank of Nova Scotia will post 4.8 EPS 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. Shareholders of record on Wednesday, October 2nd were given a dividend of $0.768 per share. This represents a $3.07 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date of this dividend was Wednesday, October 2nd. Bank of Nova Scotia's dividend payout ratio (DPR) is 74.88%.

Bank of Nova Scotia 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.