Moran Wealth Management LLC Acquires Shares of 3,685 The Bank of Nova Scotia (NYSE:BNS)

Moran Wealth Management LLC bought a new position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,685 shares of the bank’s stock, valued at approximately $201,000.

A number of other institutional investors also recently modified their holdings of the business. Sigma Planning Corp boosted its holdings in Bank of Nova Scotia by 1.9% in the 3rd quarter. Sigma Planning Corp now owns 11,089 shares of the bank’s stock valued at $604,000 after purchasing an additional 210 shares during the period. Signaturefd LLC boosted its stake in shares of Bank of Nova Scotia by 1.2% in the third quarter. Signaturefd LLC now owns 18,470 shares of the bank’s stock valued at $1,006,000 after buying an additional 216 shares during the period. Addison Advisors LLC boosted its stake in shares of Bank of Nova Scotia by 7.3% in the third quarter. Addison Advisors LLC now owns 3,357 shares of the bank’s stock valued at $183,000 after buying an additional 227 shares during the period. Pacifica Partners Inc. grew its position in Bank of Nova Scotia by 1.5% during the second quarter. Pacifica Partners Inc. now owns 19,493 shares of the bank’s stock worth $889,000 after buying an additional 288 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in Bank of Nova Scotia by 11.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,713 shares of the bank’s stock worth $148,000 after acquiring an additional 288 shares during the period. Institutional investors own 49.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on BNS shares. Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday. Barclays raised shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday. TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Bank of Nova Scotia currently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Bank of Nova Scotia Trading Up 0.4 %

Shares of Bank of Nova Scotia stock opened at $56.46 on Friday. The firm has a market capitalization of $70.26 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $53.42 and its 200 day moving average is $49.41. The Bank of Nova Scotia has a 1 year low of $41.80 and a 1 year high of $56.71.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its 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. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The firm had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter in the previous year, the firm posted $1.30 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. Equities research analysts forecast that The Bank of Nova Scotia will post 4.75 earnings per share for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd were paid a dividend of $0.768 per share. This represents a $3.07 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date of this dividend was Wednesday, October 2nd. Bank of Nova Scotia’s payout ratio is 74.88%.

About Bank of Nova Scotia

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.