Enterprise Bank & Trust Co Takes Position in The Bank of Nova Scotia (NYSE:BNS)

Enterprise Bank & Trust Co acquired a new position in 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 fund acquired 3,977 shares of the bank’s stock, valued at approximately $217,000.

Other hedge funds also recently bought and sold shares of the company. Artemis Investment Management LLP bought a new position in shares of Bank of Nova Scotia in the 3rd quarter worth $27,887,000. Atomi Financial Group Inc. raised its holdings in Bank of Nova Scotia by 41.6% in the third quarter. Atomi Financial Group Inc. now owns 8,626 shares of the bank’s stock worth $470,000 after purchasing an additional 2,533 shares in the last quarter. Value Partners Investments Inc. lifted its position in shares of Bank of Nova Scotia by 0.3% during the third quarter. Value Partners Investments Inc. now owns 1,414,842 shares of the bank’s stock valued at $77,095,000 after buying an additional 4,781 shares during the last quarter. Eldred Rock Partners LLC boosted its holdings in shares of Bank of Nova Scotia by 119.4% in the 3rd quarter. Eldred Rock Partners LLC now owns 155,180 shares of the bank’s stock valued at $8,456,000 after buying an additional 84,441 shares in the last quarter. Finally, Pathway Financial Advisers LLC grew its position in shares of Bank of Nova Scotia by 1.9% in the 2nd quarter. Pathway Financial Advisers LLC now owns 72,474 shares of the bank’s stock worth $3,309,000 after buying an additional 1,318 shares during the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BNS. UBS Group assumed coverage on shares of Bank of Nova Scotia in a research report on Tuesday, July 2nd. They set a “neutral” rating for the company. Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $69.00.

Bank of Nova Scotia Stock Down 1.1 %

NYSE:BNS opened at $51.82 on Thursday. 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 twelve month low of $39.79 and a twelve month high of $55.12. The company has a market cap of $63.71 billion, a PE ratio of 11.67, a P/E/G ratio of 1.71 and a beta of 1.05. The company’s 50 day moving average is $50.01 and its two-hundred day moving average is $48.26.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its 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. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The firm had revenue of $8.36 billion for the quarter, compared to the consensus estimate of $8.53 billion. During the same period in the prior year, the firm earned $1.30 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. Analysts anticipate that The Bank of Nova Scotia will post 4.8 EPS for the current year.

Bank of Nova Scotia Cuts Dividend

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

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.