Kavar Capital Partners Group LLC Buys Shares of 3,800 The Bank of Nova Scotia (NYSE:BNS)

Kavar Capital Partners Group LLC bought a new stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,800 shares of the bank’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BNS. Pathway Financial Advisers LLC lifted its stake in shares of Bank of Nova Scotia by 5,380.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank’s stock worth $216,447,000 after acquiring an additional 3,899,760 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Bank of Nova Scotia in the 2nd quarter worth approximately $120,463,000. 1832 Asset Management L.P. lifted its stake in shares of Bank of Nova Scotia by 16.1% in the 1st quarter. 1832 Asset Management L.P. now owns 17,015,877 shares of the bank’s stock worth $881,082,000 after acquiring an additional 2,361,136 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Bank of Nova Scotia by 17.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,563,337 shares of the bank’s stock worth $753,658,000 after acquiring an additional 2,178,633 shares during the period. Finally, Nicola Wealth Management LTD. acquired a new stake in shares of Bank of Nova Scotia in the 1st quarter worth approximately $77,670,000. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Price Performance

NYSE BNS opened at $51.78 on Friday. 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 Bank of Nova Scotia has a 1 year low of $39.79 and a 1 year high of $55.12. The company has a market cap of $63.67 billion, a PE ratio of 11.66, a PEG ratio of 1.64 and a beta of 1.05. The stock’s 50-day moving average price is $51.78 and its two-hundred day moving average price is $48.47.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 EPS for the quarter, beating the consensus estimate 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 business had revenue of $8.36 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts predict that The Bank of Nova Scotia will post 4.8 EPS for the current year.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd will be given a dividend of $0.768 per share. This represents a $3.07 annualized dividend and a yield of 5.93%. The ex-dividend date of this dividend is Wednesday, October 2nd. Bank of Nova Scotia’s payout ratio is 70.50%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in 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 note on Friday, September 20th. UBS Group initiated coverage on shares of Bank of Nova Scotia in a report on Tuesday, July 2nd. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of “Hold” and an average target price of $69.00.

Bank of Nova Scotia Company 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.