CIBC Asset Management Inc increased its holdings in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 1.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,259,279 shares of the bank's stock after acquiring an additional 184,761 shares during the period. Bank of Nova Scotia comprises 1.8% of CIBC Asset Management Inc's portfolio, making the stock its 14th biggest position. CIBC Asset Management Inc owned about 0.82% of Bank of Nova Scotia worth $551,766,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of BNS. Creative Planning lifted its stake in shares of Bank of Nova Scotia by 2.3% during the 3rd quarter. Creative Planning now owns 36,568 shares of the bank's stock worth $1,993,000 after acquiring an additional 807 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Bank of Nova Scotia by 171.6% in the 3rd quarter. Blue Trust Inc. now owns 1,578 shares of the bank's stock valued at $86,000 after acquiring an additional 997 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of Bank of Nova Scotia in the 3rd quarter valued at $221,000. Signaturefd LLC increased its holdings in shares of Bank of Nova Scotia by 1.2% in the 3rd quarter. Signaturefd LLC now owns 18,470 shares of the bank's stock valued at $1,006,000 after acquiring an additional 216 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of Bank of Nova Scotia by 138.9% in the 3rd quarter. International Assets Investment Management LLC now owns 123,358 shares of the bank's stock valued at $67,220,000 after acquiring an additional 71,712 shares during the period. 49.13% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on BNS shares. Bank of America upgraded Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a report on Tuesday, November 19th. Cibc World Mkts downgraded Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Canaccord Genuity Group upgraded Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Finally, Barclays upgraded Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Bank of Nova Scotia has a consensus rating of "Hold" and a consensus target price of $72.00.
Read Our Latest Analysis on Bank of Nova Scotia
Bank of Nova Scotia Stock Performance
Bank of Nova Scotia stock traded up $0.23 during trading hours on Thursday, hitting $51.10. 964,703 shares of the stock traded hands, compared to its average volume of 1,899,973. 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 firm's 50 day moving average price is $52.22 and its 200-day moving average price is $52.20. The stock has a market capitalization of $63.64 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 1.16 and a beta of 1.07. The Bank of Nova Scotia has a 1 year low of $43.67 and a 1 year high of $57.07.
Bank of Nova Scotia Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th were issued a $0.7535 dividend. The ex-dividend date was Tuesday, January 7th. This represents a $3.01 annualized dividend and a dividend yield of 5.90%. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 68.29%.
About Bank of Nova Scotia
(
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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