Kestra Advisory Services LLC Raises Position in The Bank of Nova Scotia (NYSE:BNS)

Kestra Advisory Services LLC increased its stake in shares of The Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) by 78.3% during the third quarter, Holdings Channel reports. The institutional investor owned 36,922 shares of the bank’s stock after acquiring an additional 16,210 shares during the period. Kestra Advisory Services LLC’s holdings in Bank of Nova Scotia were worth $1,756,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of BNS. Charter Oak Capital Management LLC purchased a new stake in Bank of Nova Scotia during the second quarter worth approximately $26,000. Private Trust Co. NA acquired a new stake in shares of Bank of Nova Scotia in the 3rd quarter worth about $28,000. Clear Street Markets LLC acquired a new position in Bank of Nova Scotia during the 2nd quarter valued at about $30,000. Hexagon Capital Partners LLC bought a new position in shares of Bank of Nova Scotia during the 2nd quarter valued at about $33,000. Finally, GPS Wealth Strategies Group LLC boosted its holdings in shares of Bank of Nova Scotia by 344.8% in the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the bank’s stock worth $38,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 45.19% of the company’s stock.

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock opened at C$51.67 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.46. The company has a market capitalization of C$61.57 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 1.89 and a beta of 0.98. The Bank of Nova Scotia has a 52 week low of C$45.26 and a 52 week high of C$74.86. The stock’s 50-day simple moving average is C$50.39 and its 200-day simple moving average is C$52.84.

Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) last issued its earnings results on Tuesday, November 29th. The bank reported C$1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.49 by C$0.06. Bank of Nova Scotia had a return on equity of 15.54% and a net margin of 21.26%. The company had revenue of C$5.73 billion during the quarter, compared to analyst estimates of C$6.21 billion. As a group, analysts expect that The Bank of Nova Scotia will post 6.11 earnings per share for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Wednesday, January 4th will be issued a $0.756 dividend. The ex-dividend date of this dividend is Tuesday, January 3rd. This represents a $3.02 dividend on an annualized basis and a dividend yield of 5.85%. Bank of Nova Scotia’s payout ratio is 48.72%.

Analysts Set New Price Targets

A number of research firms have issued reports on BNS. Scotiabank reduced their target price on shares of Bank of Nova Scotia from C$83.50 to C$81.50 and set a “sector perform” rating for the company in a research note on Wednesday, November 30th. StockNews.com assumed coverage on shares of Bank of Nova Scotia in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Bank of Nova Scotia presently has a consensus rating of “Hold” and a consensus price target of C$89.77.

Bank of Nova Scotia Company Profile

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The Bank of Nova Scotia engages in the provision of various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.

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Institutional Ownership by Quarter for Bank of Nova Scotia (NYSE:BNS)

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