Avanza Fonder AB acquired a new stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 81,793 shares of the bank's stock, valued at approximately $4,394,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ritholtz Wealth Management raised its holdings in Bank of Nova Scotia by 55.2% during the fourth quarter. Ritholtz Wealth Management now owns 9,451 shares of the bank's stock worth $508,000 after purchasing an additional 3,360 shares in the last quarter. Advisors Management Group Inc. ADV increased its holdings in shares of Bank of Nova Scotia by 0.7% in the 4th quarter. Advisors Management Group Inc. ADV now owns 51,086 shares of the bank's stock valued at $2,744,000 after acquiring an additional 370 shares during the period. Fortitude Family Office LLC acquired a new position in shares of Bank of Nova Scotia in the 4th quarter valued at $73,000. Franklin Resources Inc. increased its holdings in shares of Bank of Nova Scotia by 15.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,287,198 shares of the bank's stock valued at $68,689,000 after acquiring an additional 171,539 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Bank of Nova Scotia in the 3rd quarter valued at $111,000. Hedge funds and other institutional investors own 49.13% of the company's stock.
Bank of Nova Scotia Price Performance
Shares of NYSE BNS traded down $0.84 during trading on Friday, hitting $50.86. 2,218,248 shares of the company were exchanged, compared to its average volume of 1,503,873. The company has a market cap of $63.34 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.16 and a beta of 1.08. The Bank of Nova Scotia has a 1 year low of $43.67 and a 1 year high of $57.07. The firm's fifty day moving average price is $54.26 and its 200 day moving average price is $51.37. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03.
Bank of Nova Scotia Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th will be given a $0.7535 dividend. The ex-dividend date is Tuesday, January 7th. This represents a $3.01 annualized dividend and a dividend yield of 5.93%. Bank of Nova Scotia's dividend payout ratio is presently 68.29%.
Analyst Upgrades and Downgrades
BNS has been the topic of a number of recent research reports. TD Securities raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Royal Bank of Canada lifted their price objective on shares of Bank of Nova Scotia from $65.00 to $74.00 and gave the company a "sector perform" rating in a research report on Wednesday, December 4th. Cibc World Mkts upgraded shares of Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 20th. Barclays upgraded shares of Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a research report on Thursday, November 21st. Finally, Bank of America upgraded shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $72.00.
View Our Latest Stock Report on BNS
Bank of Nova Scotia Company Profile
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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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