Bessemer Group Inc. Sells 30,444 Shares of Bank of Nova Scotia (The) $BNS

Bessemer Group Inc. decreased its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 29.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 72,197 shares of the bank’s stock after selling 30,444 shares during the period. Bessemer Group Inc.’s holdings in Bank of Nova Scotia were worth $4,662,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Cypress Capital Management LLC WY acquired a new stake in Bank of Nova Scotia during the 2nd quarter worth $33,000. VSM Wealth Advisory LLC bought a new position in shares of Bank of Nova Scotia in the 2nd quarter worth $55,000. Toth Financial Advisory Corp acquired a new stake in shares of Bank of Nova Scotia during the third quarter worth $67,000. MAI Capital Management increased its holdings in Bank of Nova Scotia by 27.4% in the second quarter. MAI Capital Management now owns 1,543 shares of the bank’s stock valued at $85,000 after purchasing an additional 332 shares during the last quarter. Finally, City State Bank increased its holdings in Bank of Nova Scotia by 56.9% in the third quarter. City State Bank now owns 1,655 shares of the bank’s stock valued at $107,000 after purchasing an additional 600 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Price Performance

NYSE BNS opened at $76.37 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $94.29 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 1.00 and a beta of 1.11. The business has a 50 day simple moving average of $73.36 and a 200 day simple moving average of $66.46. Bank of Nova Scotia has a 52-week low of $44.09 and a 52-week high of $76.56.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Tuesday, December 2nd. The bank reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.06. Bank of Nova Scotia had a net margin of 10.60% and a return on equity of 12.10%. The company had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $6.85 billion. During the same quarter in the prior year, the company earned $1.57 earnings per share. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. Analysts anticipate that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Tuesday, January 6th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Tuesday, January 6th. Bank of Nova Scotia’s dividend payout ratio is 79.85%.

Analyst Ratings Changes

Several research firms have recently issued reports on BNS. Weiss Ratings restated a “hold (c+)” rating on shares of Bank of Nova Scotia in a research report on Monday, December 29th. Royal Bank Of Canada lifted their price objective on shares of Bank of Nova Scotia from $86.00 to $97.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 3rd. Finally, Raymond James Financial assumed coverage on shares of Bank of Nova Scotia in a research note on Tuesday, November 25th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $97.00.

Bank of Nova Scotia 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.