Foundations Investment Advisors LLC Takes $441,000 Position in Bank of Nova Scotia (The) $BNS

Foundations Investment Advisors LLC acquired a new stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,821 shares of the bank’s stock, valued at approximately $441,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Cypress Capital Management LLC WY purchased a new position in Bank of Nova Scotia in the 2nd quarter valued at about $33,000. VSM Wealth Advisory LLC acquired a new position in shares of Bank of Nova Scotia in the second quarter valued at approximately $55,000. Toth Financial Advisory Corp acquired a new position in shares of Bank of Nova Scotia in the third quarter valued at approximately $67,000. MAI Capital Management lifted its stake in shares of Bank of Nova Scotia by 27.4% during the second quarter. MAI Capital Management now owns 1,543 shares of the bank’s stock valued at $85,000 after buying an additional 332 shares during the period. Finally, City State Bank boosted its position in Bank of Nova Scotia by 56.9% during the third quarter. City State Bank now owns 1,655 shares of the bank’s stock worth $107,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BNS. Royal Bank Of Canada boosted their price target on Bank of Nova Scotia from $86.00 to $97.00 and gave the company a “sector perform” rating in a report on Wednesday, December 3rd. Raymond James Financial started coverage on Bank of Nova Scotia in a research report on Tuesday, November 25th. They issued an “outperform” rating for the company. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Bank of Nova Scotia in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $97.00.

Bank of Nova Scotia Stock Up 0.6%

Shares of NYSE BNS opened at $75.20 on Tuesday. The stock has a market capitalization of $92.84 billion, a PE ratio of 18.71, a P/E/G ratio of 0.98 and a beta of 1.11. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.70. The firm has a fifty day moving average of $72.82 and a 200-day moving average of $65.98. Bank of Nova Scotia has a 52-week low of $44.09 and a 52-week high of $76.56.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, December 2nd. The bank reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.06. Bank of Nova Scotia had a return on equity of 12.10% and a net margin of 10.60%.The business had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.85 billion. During the same period last year, the company posted $1.57 EPS. The business’s quarterly revenue was up 15.0% on a year-over-year basis. On average, analysts anticipate that Bank of Nova Scotia will post 4.91 EPS for the current year.

Bank of Nova Scotia Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Tuesday, January 6th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Tuesday, January 6th. Bank of Nova Scotia’s dividend payout ratio (DPR) is 79.60%.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.