Bank of New York Mellon Corp Acquires 77,820 Shares of The Bank of Nova Scotia (NYSE:BNS)

Bank of New York Mellon Corp raised its holdings in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,095,285 shares of the bank's stock after buying an additional 77,820 shares during the period. Bank of New York Mellon Corp owned about 0.09% of Bank of Nova Scotia worth $58,839,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE boosted its holdings in shares of Bank of Nova Scotia by 25.7% during the third quarter. US Bancorp DE now owns 84,281 shares of the bank's stock worth $4,592,000 after purchasing an additional 17,232 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of 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 worth $148,000 after purchasing an additional 288 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Bank of Nova Scotia by 28.6% during the third quarter. Van ECK Associates Corp now owns 359,146 shares of the bank's stock worth $18,819,000 after purchasing an additional 79,854 shares during the period. Callahan Advisors LLC purchased a new stake in shares of Bank of Nova Scotia during the third quarter worth about $256,000. Finally, Advisors Management Group Inc. ADV boosted its holdings in shares of Bank of Nova Scotia by 5.6% during the third quarter. Advisors Management Group Inc. ADV now owns 50,716 shares of the bank's stock worth $2,764,000 after purchasing an additional 2,668 shares during the period. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

BNS has been the subject of a number of analyst reports. Royal Bank of Canada dropped their target price on shares of 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. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. UBS Group upgraded shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a report on Monday, November 18th. Finally, Bank of America upgraded shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia currently has a consensus rating of "Hold" and an average price target of $75.50.

Bank of Nova Scotia Stock Up 0.4 %

BNS traded up $0.18 on Friday, hitting $48.33. The company had a trading volume of 1,310,440 shares, compared to its average volume of 1,868,030. 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 stock has a fifty day simple moving average of $51.13 and a 200-day simple moving average of $52.45. The firm has a market capitalization of $60.19 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. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.7415 per share. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio is 82.77%.

Bank of Nova Scotia 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.