APG Asset Management N.V. Acquires Shares of 676,704 The Bank of Nova Scotia (NYSE:BNS)

APG Asset Management N.V. bought a new position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 676,704 shares of the bank's stock, valued at approximately $35,075,000. APG Asset Management N.V. owned 0.05% of Bank of Nova Scotia at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp bought a new stake in shares of Bank of Nova Scotia in the fourth quarter worth $25,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Bank of Nova Scotia in the fourth quarter worth about $31,000. Allworth Financial LP grew its stake in shares of Bank of Nova Scotia by 121.1% during the 4th quarter. Allworth Financial LP now owns 639 shares of the bank's stock valued at $33,000 after purchasing an additional 350 shares during the period. BNP Paribas Financial Markets increased its position in shares of Bank of Nova Scotia by 1,588.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank's stock valued at $47,000 after purchasing an additional 810 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of Bank of Nova Scotia in the 4th quarter worth approximately $73,000. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Price Performance

Shares of BNS stock traded up $0.71 on Monday, hitting $46.77. 443,704 shares of the stock traded hands, compared to its average volume of 2,058,729. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The Bank of Nova Scotia has a 52 week low of $43.67 and a 52 week high of $57.07. The firm has a 50 day simple moving average of $48.65 and a two-hundred day simple moving average of $51.76. The firm has a market cap of $58.25 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 1.16 and a beta of 1.02.

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Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 annualized dividend and a dividend yield of 6.34%. Bank of Nova Scotia's payout ratio is 83.05%.

Analysts Set New Price Targets

Several analysts recently issued reports on BNS shares. CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Bank of America downgraded shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. Royal Bank of Canada decreased 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 report on Wednesday, February 26th. Finally, Cibc World Mkts lowered Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Bank of Nova Scotia has an average rating of "Hold" and an average price target of $81.00.

Bank of Nova Scotia Company Profile

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.