Ninepoint Partners LP purchased a new stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 55,356 shares of the bank's stock, valued at approximately $2,974,000. Bank of Nova Scotia comprises 0.4% of Ninepoint Partners LP's investment portfolio, making the stock its 21st biggest holding.
Several other large investors have also added to or reduced their stakes in the company. Magnus Financial Group LLC grew its stake in Bank of Nova Scotia by 4.1% during the 4th quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank's stock valued at $274,000 after purchasing an additional 200 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Bank of Nova Scotia by 3.5% in the fourth quarter. Private Advisor Group LLC now owns 6,248 shares of the bank's stock worth $336,000 after buying an additional 211 shares during the last quarter. Moran Wealth Management LLC boosted its stake in shares of Bank of Nova Scotia by 6.5% in the fourth quarter. Moran Wealth Management LLC now owns 3,925 shares of the bank's stock worth $211,000 after buying an additional 240 shares during the last quarter. Lindbrook Capital LLC boosted its stake in shares of Bank of Nova Scotia by 10.2% in the fourth quarter. Lindbrook Capital LLC now owns 2,860 shares of the bank's stock worth $154,000 after buying an additional 264 shares during the last quarter. Finally, Merit Financial Group LLC boosted its stake in shares of Bank of Nova Scotia by 5.8% in the fourth quarter. Merit Financial Group LLC now owns 4,905 shares of the bank's stock worth $264,000 after buying an additional 271 shares during the last quarter. Hedge funds and other institutional investors own 49.13% of the company's stock.
Bank of Nova Scotia Price Performance
Shares of Bank of Nova Scotia stock traded down $0.16 during mid-day trading on Thursday, reaching $48.07. 2,618,202 shares of the stock traded hands, compared to its average volume of 1,610,525. The business has a 50-day moving average of $50.28 and a 200 day moving average of $52.44. The Bank of Nova Scotia has a fifty-two week low of $43.68 and a fifty-two week high of $57.07. The stock has a market capitalization of $59.88 billion, a PE ratio of 11.13, a PEG ratio of 1.16 and a beta of 1.11. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59.
Bank of Nova Scotia Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.7415 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.17%. Bank of Nova Scotia's payout ratio is currently 82.77%.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on BNS. Barclays upgraded Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a research note on Thursday, November 21st. Royal Bank of Canada lowered their target price on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 26th. Cibc World Mkts downgraded Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Finally, CIBC reaffirmed a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $75.50.
Check Out Our Latest Stock Analysis on BNS
Bank of Nova Scotia Profile
(
Free Report)
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.
Further Reading
Before you consider Bank of Nova Scotia, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of Nova Scotia wasn't on the list.
While Bank of Nova Scotia currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
