Pathway Financial Advisers LLC Has $3.31 Million Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

Pathway Financial Advisers LLC increased its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,474 shares of the bank’s stock after buying an additional 1,318 shares during the quarter. Bank of Nova Scotia accounts for approximately 1.2% of Pathway Financial Advisers LLC’s investment portfolio, making the stock its 25th largest position. Pathway Financial Advisers LLC’s holdings in Bank of Nova Scotia were worth $3,309,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its stake in shares of Bank of Nova Scotia by 1.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,432 shares of the bank’s stock worth $799,000 after purchasing an additional 219 shares during the last quarter. Power Corp of Canada increased its stake in shares of Bank of Nova Scotia by 1.9% in the fourth quarter. Power Corp of Canada now owns 12,037 shares of the bank’s stock valued at $587,000 after buying an additional 226 shares during the period. Bruce G. Allen Investments LLC raised its position in shares of Bank of Nova Scotia by 70.6% during the first quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock worth $30,000 after acquiring an additional 242 shares during the last quarter. Pacifica Partners Inc. lifted its stake in shares of Bank of Nova Scotia by 1.5% in the second quarter. Pacifica Partners Inc. now owns 19,493 shares of the bank’s stock worth $889,000 after acquiring an additional 288 shares during the period. Finally, Gold Investment Management Ltd. increased its position in Bank of Nova Scotia by 0.3% during the 1st quarter. Gold Investment Management Ltd. now owns 111,564 shares of the bank’s stock valued at $5,773,000 after purchasing an additional 292 shares during the period. Institutional investors own 49.13% of the company’s stock.

Analysts Set New Price Targets

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

Bank of Nova Scotia Trading Up 0.1 %

NYSE:BNS opened at $54.49 on Tuesday. The firm has a fifty day simple moving average of $49.15 and a two-hundred day simple moving average of $48.13. The Bank of Nova Scotia has a 12 month low of $39.79 and a 12 month high of $55.12. The stock has a market capitalization of $67.00 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.71 and a beta of 1.04. 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) (TSE:BNS) last posted its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.01. The business had revenue of $8.36 billion for the quarter, compared to the consensus estimate of $8.53 billion. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. 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 declared a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.768 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $3.07 dividend on an annualized basis and a yield of 5.64%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 70.72%.

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.