Asahi Life Asset Management CO. LTD. acquired a new stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,950 shares of the bank's stock, valued at approximately $373,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BNS. Allworth Financial LP boosted its holdings in Bank of Nova Scotia by 121.1% in the fourth 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 last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Bank of Nova Scotia by 1,588.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank's stock valued at $47,000 after buying an additional 810 shares during the period. Fortitude Family Office LLC purchased a new stake in shares of Bank of Nova Scotia in the fourth quarter worth about $73,000. Wilmington Savings Fund Society FSB acquired a new stake in Bank of Nova Scotia during the third quarter worth about $111,000. Finally, Farther Finance Advisors LLC raised its position in Bank of Nova Scotia by 11.9% during the third quarter. Farther Finance Advisors LLC now owns 2,713 shares of the bank's stock valued at $148,000 after acquiring an additional 288 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company's stock.
Wall Street Analyst Weigh In
BNS has been the topic of several recent research reports. UBS Group upgraded Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Monday, November 18th. Barclays raised shares of Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a report on Thursday, November 21st. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Finally, CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $75.50.
Read Our Latest Stock Report on BNS
Bank of Nova Scotia Price Performance
Shares of NYSE BNS traded up $0.11 during trading on Wednesday, hitting $48.59. The company had a trading volume of 1,957,181 shares, compared to its average volume of 1,889,682. The Bank of Nova Scotia has a fifty-two week low of $43.67 and a fifty-two week high of $57.07. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $51.45 and a two-hundred day simple moving average of $52.51. The firm has a market capitalization of $60.53 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11.
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 is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.10%. Bank of Nova Scotia's payout ratio is currently 82.77%.
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.
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