Atomi Financial Group Inc. Purchases 2,533 Shares of The Bank of Nova Scotia (NYSE:BNS)

Atomi Financial Group Inc. boosted its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 41.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,626 shares of the bank’s stock after purchasing an additional 2,533 shares during the quarter. Atomi Financial Group Inc.’s holdings in Bank of Nova Scotia were worth $470,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Mather Group LLC. raised its stake in shares of Bank of Nova Scotia by 1,388.9% during the second quarter. Mather Group LLC. now owns 536 shares of the bank’s stock worth $25,000 after buying an additional 500 shares during the last quarter. Blue Trust Inc. raised its position in shares of Bank of Nova Scotia by 3,127.8% during the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock valued at $27,000 after acquiring an additional 563 shares during the last quarter. Bruce G. Allen Investments LLC lifted its stake in shares of Bank of Nova Scotia by 70.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock valued at $30,000 after purchasing an additional 242 shares during the period. Headlands Technologies LLC bought a new position in shares of Bank of Nova Scotia in the 1st quarter worth $53,000. Finally, Galibier Capital Management Ltd. acquired a new stake in shares of Bank of Nova Scotia during the first quarter worth $76,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BNS. UBS Group initiated coverage on Bank of Nova Scotia in a report on Tuesday, July 2nd. They set a “neutral” rating on the stock. Cibc World Mkts raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Bank of Nova Scotia currently has a consensus rating of “Hold” and a consensus price target of $69.00.

Bank of Nova Scotia Stock Performance

BNS stock opened at $52.06 on Friday. The Bank of Nova Scotia has a 1-year low of $39.79 and a 1-year high of $55.12. 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 firm has a market cap of $64.01 billion, a PE ratio of 11.72, a P/E/G ratio of 1.71 and a beta of 1.05. The business’s 50-day moving average price is $50.12 and its two-hundred day moving average price is $48.28.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.01. The business had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.53 billion. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. Bank of Nova Scotia’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.30 EPS. As a group, research analysts forecast that The Bank of Nova Scotia will post 4.8 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 Tuesday, October 29th. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.768 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $3.07 dividend on an annualized basis and a dividend yield of 5.90%. Bank of Nova Scotia’s payout ratio is 70.50%.

About Bank of Nova Scotia

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.