Eliot Finkel Investment Counsel LLC lessened its holdings in Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 7.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,995 shares of the bank’s stock after selling 4,505 shares during the period. Bank of Nova Scotia comprises 2.0% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 26th biggest holding. Eliot Finkel Investment Counsel LLC’s holdings in Bank of Nova Scotia were worth $3,160,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BNS. Bank of Montreal Can grew its holdings in shares of Bank of Nova Scotia by 8.0% during the third quarter. Bank of Montreal Can now owns 50,478,972 shares of the bank’s stock worth $3,010,061,000 after purchasing an additional 3,741,346 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of Bank of Nova Scotia by 37.5% during the second quarter. Toronto Dominion Bank now owns 20,945,499 shares of the bank’s stock worth $1,199,742,000 after purchasing an additional 5,709,563 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Bank of Nova Scotia by 0.9% during the third quarter. Great West Life Assurance Co. Can now owns 14,097,135 shares of the bank’s stock worth $841,305,000 after purchasing an additional 119,591 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Bank of Nova Scotia by 0.6% during the third quarter. CIBC Asset Management Inc now owns 8,209,322 shares of the bank’s stock worth $488,943,000 after purchasing an additional 50,748 shares during the last quarter. Finally, Letko Brosseau & Associates Inc. grew its holdings in shares of Bank of Nova Scotia by 0.7% during the third quarter. Letko Brosseau & Associates Inc. now owns 7,127,048 shares of the bank’s stock worth $424,502,000 after purchasing an additional 52,747 shares during the last quarter. Hedge funds and other institutional investors own 46.42% of the company’s stock.

Bank of Nova Scotia stock opened at $54.05 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $66.32 billion, a P/E ratio of 9.94, a P/E/G ratio of 1.49 and a beta of 1.25. Bank of Nova Scotia has a one year low of $52.09 and a one year high of $66.78.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Tuesday, November 27th. The bank reported $1.35 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.35. The company had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.64 billion. Bank of Nova Scotia had a return on equity of 14.31% and a net margin of 21.04%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 earnings per share. Equities analysts predict that Bank of Nova Scotia will post 5.68 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 29th. Investors of record on Wednesday, January 2nd will be paid a $0.646 dividend. This represents a $2.58 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Monday, December 31st. Bank of Nova Scotia’s dividend payout ratio is currently 48.35%.

Several analysts have recently weighed in on BNS shares. TD Securities restated a “buy” rating on shares of Bank of Nova Scotia in a report on Monday, November 19th. Canaccord Genuity cut Bank of Nova Scotia from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Zacks Investment Research cut Bank of Nova Scotia from a “buy” rating to a “hold” rating in a report on Tuesday, October 30th. Barclays restated a “buy” rating on shares of Bank of Nova Scotia in a report on Tuesday, November 27th. Finally, Desjardins restated an “average” rating and set a $85.00 price target on shares of Bank of Nova Scotia in a report on Thursday, November 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $79.75.

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About Bank of Nova Scotia

The Bank of Nova Scotia provides various financial services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. It offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

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Institutional Ownership by Quarter for Bank of Nova Scotia (NYSE:BNS)

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