Kavar Capital Partners Group LLC Acquires New Shares in The Bank of Nova Scotia (NYSE:BNS)

Kavar Capital Partners Group LLC bought a new stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the third quarter, Holdings Channel.com reports. The institutional investor bought 3,800 shares of the bank’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds have also modified their holdings of BNS. Pathway Financial Advisers LLC raised its holdings in Bank of Nova Scotia by 5,380.9% during the third quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank’s stock valued at $216,447,000 after buying an additional 3,899,760 shares in the last quarter. Forsta AP Fonden increased its holdings in shares of Bank of Nova Scotia by 7.3% during the 3rd quarter. Forsta AP Fonden now owns 352,700 shares of the bank’s stock valued at $19,239,000 after acquiring an additional 24,100 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Bank of Nova Scotia by 110.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 91,862 shares of the bank’s stock valued at $5,011,000 after acquiring an additional 48,147 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Bank of Nova Scotia by 138.9% in the 3rd quarter. International Assets Investment Management LLC now owns 123,358 shares of the bank’s stock valued at $67,220,000 after acquiring an additional 71,712 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in Bank of Nova Scotia by 1.2% in the 3rd quarter. Signaturefd LLC now owns 18,470 shares of the bank’s stock worth $1,006,000 after purchasing an additional 216 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

NYSE BNS opened at $51.78 on Friday. The Bank of Nova Scotia has a twelve month low of $39.79 and a twelve month high of $55.12. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $63.67 billion, a PE ratio of 11.66, a P/E/G ratio of 1.64 and a beta of 1.05. The stock has a 50-day simple moving average of $51.78 and a 200 day simple moving average of $48.47.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data 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. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The business had revenue of $8.36 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter in the previous year, the firm earned $1.30 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. Research analysts anticipate that The Bank of Nova Scotia will post 4.8 EPS for the current year.

Bank of Nova Scotia Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be issued a $0.768 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $3.07 annualized dividend and a yield of 5.93%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 70.50%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BNS shares. Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th. UBS Group began coverage on shares of Bank of Nova Scotia in a research note on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $69.00.

About Bank of Nova Scotia

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.