Bridgewater Associates LP Raises Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

Bridgewater Associates LP increased its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 67.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 137,431 shares of the bank's stock after acquiring an additional 55,202 shares during the quarter. Bridgewater Associates LP's holdings in Bank of Nova Scotia were worth $7,376,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Galibier Capital Management Ltd. grew its stake in shares of Bank of Nova Scotia by 38,283.3% in the 4th quarter. Galibier Capital Management Ltd. now owns 476,721 shares of the bank's stock valued at $25,586,000 after buying an additional 475,479 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Bank of Nova Scotia by 7.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,095,285 shares of the bank's stock valued at $58,839,000 after acquiring an additional 77,820 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in shares of Bank of Nova Scotia during the fourth quarter worth approximately $292,000. Blue Trust Inc. lifted its holdings in shares of Bank of Nova Scotia by 98.6% in the 4th quarter. Blue Trust Inc. now owns 3,134 shares of the bank's stock worth $171,000 after purchasing an additional 1,556 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in Bank of Nova Scotia by 11.8% in the 4th quarter. HighTower Advisors LLC now owns 11,438 shares of the bank's stock valued at $614,000 after purchasing an additional 1,207 shares during the period. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Stock Performance

Shares of Bank of Nova Scotia stock traded up $0.35 during mid-day trading on Friday, hitting $47.46. 1,308,893 shares of the stock were exchanged, compared to its average volume of 1,676,652. The company has a market capitalization of $59.11 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.16 and a beta of 1.02. 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 company has a 50-day simple moving average of $48.28 and a 200 day simple moving average of $51.53. The Bank of Nova Scotia has a 12 month low of $43.68 and a 12 month high of $57.07.

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 given a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a yield of 6.25%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio is currently 83.05%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BNS shares. Bank of America downgraded shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. Royal Bank of Canada dropped their price target on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 26th. CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Finally, Cibc World Mkts downgraded Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $81.00.

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.