Guardian Partners Inc. Makes New Investment in The Bank of Nova Scotia (NYSE:BNS)

Guardian Partners Inc. acquired a new position in 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 Securities & Exchange Commission. The fund acquired 609,780 shares of the bank's stock, valued at approximately $31,515,000. Bank of Nova Scotia accounts for 3.2% of Guardian Partners Inc.'s holdings, making the stock its 5th largest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of BNS. Bank Julius Baer & Co. Ltd Zurich bought a new position in Bank of Nova Scotia during the 4th quarter worth approximately $31,000. Allworth Financial LP grew its holdings in shares of Bank of Nova Scotia by 121.1% in the fourth quarter. Allworth Financial LP now owns 639 shares of the bank's stock worth $33,000 after purchasing an additional 350 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Bank of Nova Scotia by 1,588.2% in the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank's stock worth $47,000 after buying an additional 810 shares during the period. Fortitude Family Office LLC bought a new stake in Bank of Nova Scotia during the 4th quarter valued at $73,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Bank of Nova Scotia during the 3rd quarter valued at $111,000. Institutional investors own 49.13% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Cibc World Mkts cut shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Finally, Royal Bank of Canada dropped their price objective on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Bank of Nova Scotia presently has an average rating of "Hold" and a consensus price target of $81.00.

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Bank of Nova Scotia Trading Down 0.8 %

Shares of NYSE BNS traded down $0.39 during midday trading on Thursday, hitting $48.35. 1,218,620 shares of the company traded hands, compared to its average volume of 1,621,618. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The Bank of Nova Scotia has a 12-month low of $43.68 and a 12-month high of $57.07. The stock has a 50-day moving average price of $49.93 and a 200 day moving average price of $52.35. The firm has a market cap of $60.23 billion, a P/E ratio of 11.19, a P/E/G ratio of 1.16 and a beta of 1.11.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be given a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio is presently 82.77%.

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.