Cardinal Capital Management Inc. Has $113.67 Million Stock Position in The Bank of Nova Scotia (NYSE:BNS)

Cardinal Capital Management Inc. increased its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,083,696 shares of the bank’s stock after acquiring an additional 28,382 shares during the quarter. Bank of Nova Scotia comprises approximately 4.7% of Cardinal Capital Management Inc.’s investment portfolio, making the stock its 10th biggest holding. Cardinal Capital Management Inc. owned about 0.17% of Bank of Nova Scotia worth $113,671,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BNS. Mather Group LLC. increased its holdings in shares of Bank of Nova Scotia by 1,388.9% in the second quarter. Mather Group LLC. now owns 536 shares of the bank’s stock worth $25,000 after acquiring an additional 500 shares in the last quarter. Blue Trust Inc. lifted its position in Bank of Nova Scotia by 3,127.8% in the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock valued at $27,000 after acquiring an additional 563 shares in the last quarter. Bruce G. Allen Investments LLC boosted its stake in Bank of Nova Scotia by 70.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock worth $30,000 after purchasing an additional 242 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Bank of Nova Scotia in the 1st quarter valued at about $53,000. Finally, City State Bank bought a new stake in shares of Bank of Nova Scotia in the third quarter valued at about $57,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $52.45 on Friday. The Bank of Nova Scotia has a 52 week low of $39.79 and a 52 week high of $55.12. The company has a market capitalization of $64.91 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 1.64 and a beta of 1.05. The company has a 50-day simple moving average of $50.37 and a 200 day simple moving average of $48.31. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.02.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released 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 business had revenue of $8.36 billion during the quarter, compared to the consensus estimate of $8.53 billion. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 EPS. On average, sell-side analysts predict that The Bank of Nova Scotia will post 4.8 earnings per share 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 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date of this dividend is Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio is 74.88%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BNS shares. UBS Group assumed coverage on shares of Bank of Nova Scotia in a research note on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Cibc World Mkts raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $69.00.

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.