Pacifica Partners Inc. Has $1.04 Million Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

Pacifica Partners Inc. lessened its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 19,123 shares of the bank’s stock after selling 370 shares during the quarter. Pacifica Partners Inc.’s holdings in Bank of Nova Scotia were worth $1,044,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Value Partners Investments Inc. lifted its stake in shares of Bank of Nova Scotia by 0.3% during the 3rd quarter. Value Partners Investments Inc. now owns 1,414,842 shares of the bank’s stock worth $77,095,000 after buying an additional 4,781 shares during the last quarter. Eldred Rock Partners LLC raised its stake in Bank of Nova Scotia by 119.4% in the 3rd quarter. Eldred Rock Partners LLC now owns 155,180 shares of the bank’s stock worth $8,456,000 after purchasing an additional 84,441 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in Bank of Nova Scotia by 1.9% in the 2nd quarter. Pathway Financial Advisers LLC now owns 72,474 shares of the bank’s stock worth $3,309,000 after purchasing an additional 1,318 shares in the last quarter. Scientech Research LLC acquired a new stake in Bank of Nova Scotia in the 2nd quarter worth about $335,000. Finally, Legal & General Group Plc raised its stake in Bank of Nova Scotia by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 9,281,724 shares of the bank’s stock worth $424,497,000 after purchasing an additional 57,796 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BNS. Cibc World Mkts upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th. UBS Group assumed coverage on shares of Bank of Nova Scotia in a report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Two 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. 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 Price Performance

BNS stock opened at $52.76 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The Bank of Nova Scotia has a 12 month low of $39.79 and a 12 month high of $55.12. The firm has a market cap of $64.87 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.71 and a beta of 1.05. The company’s 50-day moving average price is $49.76 and its two-hundred day moving average price is $48.23.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.01. The company had revenue of $8.36 billion for the quarter, compared to analyst estimates 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 revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.30 EPS. On average, analysts anticipate that The Bank of Nova Scotia will post 4.8 earnings per share for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.768 per share. This represents a $3.07 annualized dividend and a dividend yield of 5.82%. The ex-dividend date is Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 70.50%.

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.