Cardinal Capital Management Has $2.36 Million Stake in The Bank of Nova Scotia (NYSE:BNS)

Cardinal Capital Management reduced its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,175 shares of the bank’s stock after selling 689 shares during the period. Cardinal Capital Management’s holdings in Bank of Nova Scotia were worth $2,361,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of BNS. Coston McIsaac & Partners lifted its stake in Bank of Nova Scotia by 167.9% in the 1st quarter. Coston McIsaac & Partners now owns 501 shares of the bank’s stock valued at $25,000 after acquiring an additional 314 shares in the last quarter. Endurance Wealth Management Inc. grew its position in Bank of Nova Scotia by 1,190.5% in the first quarter. Endurance Wealth Management Inc. now owns 542 shares of the bank’s stock valued at $27,000 after purchasing an additional 500 shares in the last quarter. HBC Financial Services PLLC acquired a new stake in Bank of Nova Scotia in the 1st quarter valued at $30,000. Massmutual Trust Co. FSB ADV lifted its position in Bank of Nova Scotia by 69.9% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 909 shares of the bank’s stock worth $46,000 after buying an additional 374 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Bank of Nova Scotia by 150.8% during the 1st quarter. CWM LLC now owns 1,377 shares of the bank’s stock worth $69,000 after buying an additional 828 shares during the last quarter. 43.18% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Up 0.0 %

Shares of BNS opened at $48.46 on Tuesday. The firm has a market cap of $58.41 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.05 and a current ratio of 1.05. The Bank of Nova Scotia has a 52 week low of $45.25 and a 52 week high of $55.91. The firm’s 50-day simple moving average is $48.10 and its 200 day simple moving average is $48.96.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its earnings results on Tuesday, August 29th. The bank reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.45. Bank of Nova Scotia had a return on equity of 13.31% and a net margin of 12.25%. The company had revenue of $8.09 billion for the quarter, compared to analyst estimates of $8.16 billion. During the same quarter last year, the company earned $1.63 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, analysts forecast that The Bank of Nova Scotia will post 5.17 earnings per share for the current year.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Tuesday, October 3rd will be issued a $0.7801 dividend. The ex-dividend date is Friday, September 29th. This represents a $3.12 annualized dividend and a yield of 6.44%. Bank of Nova Scotia’s dividend payout ratio is presently 67.23%.

Wall Street Analysts Forecast Growth

BNS has been the subject of a number of analyst reports. Scotiabank decreased their price target on Bank of Nova Scotia from $68.00 to $66.00 and set a “hold” rating for the company in a research note on Wednesday, August 30th. Barclays increased their price target on shares of Bank of Nova Scotia from $63.00 to $65.00 and gave the company an “underweight” rating in a research note on Monday, August 21st. Finally, StockNews.com lowered shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Monday, September 4th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $69.33.

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 in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.