The Bank of Nova Scotia (NYSE:BNS) Shares Acquired by Addison Advisors LLC

Addison Advisors LLC grew its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 88.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,948 shares of the bank’s stock after purchasing an additional 1,385 shares during the quarter. Addison Advisors LLC’s holdings in Bank of Nova Scotia were worth $144,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in Bank of Nova Scotia by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 45,691,098 shares of the bank’s stock valued at $2,083,057,000 after buying an additional 725,489 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Bank of Nova Scotia by 3.4% during the third quarter. Toronto Dominion Bank now owns 22,567,680 shares of the bank’s stock valued at $1,028,861,000 after acquiring an additional 736,807 shares during the last quarter. Mackenzie Financial Corp increased its position in Bank of Nova Scotia by 8.7% during the 3rd quarter. Mackenzie Financial Corp now owns 15,684,313 shares of the bank’s stock worth $665,191,000 after purchasing an additional 1,256,868 shares in the last quarter. Scotia Capital Inc. raised its stake in Bank of Nova Scotia by 1.4% in the 3rd quarter. Scotia Capital Inc. now owns 13,387,765 shares of the bank’s stock valued at $600,211,000 after purchasing an additional 183,008 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Bank of Nova Scotia by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 8,194,388 shares of the bank’s stock valued at $368,423,000 after purchasing an additional 314,943 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on BNS shares. Jefferies Financial Group initiated coverage on shares of Bank of Nova Scotia in a report on Thursday, February 22nd. They set a “hold” rating for the company. Barclays assumed coverage on shares of Bank of Nova Scotia in a research note on Wednesday, March 20th. They issued an “underweight” rating and a $70.00 target price for the company. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, Bank of Nova Scotia currently has a consensus rating of “Hold” and a consensus price target of $68.00.

Bank of Nova Scotia Trading Up 0.7 %

Shares of BNS stock traded up $0.33 during trading hours on Friday, hitting $46.56. 1,145,238 shares of the company were exchanged, compared to its average volume of 2,092,914. The Bank of Nova Scotia has a 1 year low of $39.79 and a 1 year high of $51.98. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.56. The firm has a fifty day moving average of $48.94 and a 200 day moving average of $46.45. The firm has a market cap of $56.91 billion, a PE ratio of 10.30, a PEG ratio of 1.53 and a beta of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, February 27th. The bank reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.06. The company had revenue of $14.13 billion during the quarter, compared to analysts’ expectations of $6.01 billion. Bank of Nova Scotia had a net margin of 10.71% and a return on equity of 11.51%. During the same period in the previous year, the company earned $1.37 EPS. Analysts expect that The Bank of Nova Scotia will post 4.9 earnings per share for the current year.

Bank of Nova Scotia Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Tuesday, April 2nd were issued a $0.7843 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 6.74%. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Monday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is 34.96%.

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.