Bank of Nova Scotia (The) $BNS Stock Position Lowered by Cardinal Capital Management Inc.

Posted by Stanley Muller on Oct 17th, 2026

Cardinal Capital Management Inc. cut its holdings in Bank of Nova Scotia (The) (NYSE:BNS – Free Report) (TSE:BNS) by 7.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,858,134 shares of the bank’s stock after selling 160,390 shares during the period. Bank of Nova Scotia accounts for 3.8% of Cardinal Capital Management Inc.’s investment portfolio, making the stock its 5th biggest position. Cardinal Capital Management Inc.’s holdings in Bank of Nova Scotia were worth $169,402,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Maseco LLP purchased a new position in Bank of Nova Scotia in the 1st quarter valued at approximately $30,000. CoreCap Advisors LLC boosted its holdings in shares of Bank of Nova Scotia by 1,366.7% in the second quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock worth $38,000 after acquiring an additional 410 shares during the period. Addison Advisors LLC bought a new position in shares of Bank of Nova Scotia in the second quarter worth $39,000. Global Retirement Partners LLC purchased a new position in shares of Bank of Nova Scotia in the second quarter valued at $46,000. Finally, Jones Financial Companies Lllp purchased a new position in shares of Bank of Nova Scotia in the second quarter valued at $61,000. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BNS shares. National Bank Financial upgraded Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, August 26th. TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, August 25th. Keefe, Bruyette & Woods started coverage on Bank of Nova Scotia in a report on Friday, August 21st. They set an “outperform” rating for the company. TD upgraded Bank of Nova Scotia to a “buy” rating in a research report on Wednesday, August 26th. Finally, Weiss Ratings upgraded Bank of Nova Scotia from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Bank of Nova Scotia has a consensus rating of “Moderate Buy” and an average target price of $105.50.

Get Our Latest Stock Analysis on BNS

Bank of Nova Scotia Price Performance

Shares of BNS traded up $0.46 during mid-day trading on Friday, reaching $91.58. 909,735 shares of the stock traded hands, compared to its average volume of 2,011,292. The company has a market cap of $111.44 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 1.02 and a beta of 1.14. Bank of Nova Scotia has a 1 year low of $63.68 and a 1 year high of $95.74. The firm has a fifty day moving average price of $91.42 and a 200 day moving average price of $84.77. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.98.

Bank of Nova Scotia (NYSE:BNS – Get Free Report) (TSE:BNS) last issued its quarterly earnings data on Tuesday, August 25th. The bank reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.11. Bank of Nova Scotia had a return on equity of 16.12% and a net margin of 13.91%. The company had revenue of $7.52 billion for the quarter, compared to the consensus estimate of $7.11 billion. During the same quarter last year, the business posted $1.84 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts predict that Bank of Nova Scotia will post 6.19 earnings per share for the current year.

Bank of Nova Scotia Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Tuesday, October 6th will be given a dividend of C$1.14 per share. This represents a $4.56 annualized dividend and a yield of 5.0%. The ex-dividend date is Tuesday, October 6th. Bank of Nova Scotia’s payout ratio is presently 57.87%.

Bank of Nova Scotia Company Profile

(Free Report)

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian financial services company headquartered in Toronto, Ontario. Founded in 1832, it is one of Canada’s largest banks and provides a broad range of banking and financial services to individuals, businesses, institutions and governments.

Scotiabank’s principal activities include Canadian personal and commercial banking, wealth management, and global banking and markets. Its products and services include deposit accounts, residential mortgages, consumer and business loans, credit cards, investment and advisory services, foreign exchange, capital markets and corporate finance.

The bank serves customers across Canada and maintains international operations, particularly in Mexico, Peru, Chile and selected markets in the Caribbean and Central America.