Marathon Asset Management Ltd Sells 68,889 Shares of Bank of Nova Scotia (The) $BNS

Marathon Asset Management Ltd lowered its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 5.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,162,303 shares of the bank’s stock after selling 68,889 shares during the period. Bank of Nova Scotia accounts for 2.8% of Marathon Asset Management Ltd’s holdings, making the stock its 10th biggest position. Marathon Asset Management Ltd owned about 0.09% of Bank of Nova Scotia worth $75,182,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Pacifica Partners Inc. increased its holdings in Bank of Nova Scotia by 1.0% during the third quarter. Pacifica Partners Inc. now owns 18,998 shares of the bank’s stock worth $1,227,000 after buying an additional 190 shares during the last quarter. Addison Advisors LLC grew its position in shares of Bank of Nova Scotia by 6.5% in the 2nd quarter. Addison Advisors LLC now owns 3,275 shares of the bank’s stock valued at $181,000 after acquiring an additional 199 shares during the period. PDS Planning Inc increased its stake in shares of Bank of Nova Scotia by 2.9% during the 2nd quarter. PDS Planning Inc now owns 7,097 shares of the bank’s stock worth $392,000 after purchasing an additional 200 shares during the last quarter. Cromwell Holdings LLC raised its holdings in shares of Bank of Nova Scotia by 7.8% in the 2nd quarter. Cromwell Holdings LLC now owns 2,955 shares of the bank’s stock valued at $163,000 after purchasing an additional 213 shares during the period. Finally, Cohen Investment Advisors LLC lifted its stake in Bank of Nova Scotia by 3.1% in the 3rd quarter. Cohen Investment Advisors LLC now owns 7,236 shares of the bank’s stock valued at $468,000 after purchasing an additional 218 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

NYSE:BNS opened at $74.17 on Monday. The stock has a 50 day simple moving average of $68.73 and a 200 day simple moving average of $62.47. The stock has a market cap of $91.67 billion, a P/E ratio of 18.45, a PEG ratio of 0.97 and a beta of 1.13. Bank of Nova Scotia has a 1-year low of $44.09 and a 1-year high of $74.41. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.70.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data 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 firm had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $6.85 billion. During the same quarter last year, the business earned $1.57 EPS. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. Research analysts anticipate that Bank of Nova Scotia will post 4.91 earnings per share for the current year.

Bank of Nova Scotia Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Tuesday, January 6th will be paid a $1.10 dividend. The ex-dividend date is Tuesday, January 6th. This represents a $4.40 annualized dividend and a yield of 5.9%. Bank of Nova Scotia’s payout ratio is 78.61%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BNS shares. Raymond James Financial assumed coverage on Bank of Nova Scotia in a research note on Tuesday, November 25th. They issued an “outperform” rating on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Bank of Nova Scotia in a report on Monday, December 22nd. Finally, Royal Bank Of Canada raised 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. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $97.00.

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.