Executive Wealth Management LLC Takes Position in The Bank of Nova Scotia (NYSE:BNS)

Executive Wealth Management LLC purchased a new stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,352 shares of the bank's stock, valued at approximately $619,000.

Several other hedge funds have also modified their holdings of the stock. Blue Trust Inc. lifted its holdings in Bank of Nova Scotia by 3,127.8% in the second quarter. Blue Trust Inc. now owns 581 shares of the bank's stock valued at $27,000 after buying an additional 563 shares during the period. BNP Paribas Financial Markets lifted its holdings in Bank of Nova Scotia by 1,588.2% in the third 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. City State Bank acquired a new position in Bank of Nova Scotia in the third quarter valued at approximately $57,000. Ashton Thomas Private Wealth LLC acquired a new position in Bank of Nova Scotia in the second quarter valued at approximately $104,000. Finally, Spartan Fund Management Inc. acquired a new position in Bank of Nova Scotia in the second quarter valued at approximately $118,000. 49.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Royal Bank of Canada increased 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 report on Wednesday, December 4th. 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. Barclays upgraded 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 upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Finally, Cibc World Mkts upgraded shares of Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $72.00.

Bank of Nova Scotia Stock Up 0.1 %

Shares of NYSE:BNS traded up $0.05 during midday trading on Wednesday, reaching $55.88. 640,367 shares of the company were exchanged, compared to its average volume of 1,744,942. 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 $53.98 and a two-hundred day simple moving average of $50.12. The firm has a market cap of $69.53 billion, a PE ratio of 12.95, a P/E/G ratio of 1.25 and a beta of 1.07.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th will be issued a dividend of $0.7535 per share. This represents a $3.01 annualized dividend and a dividend yield of 5.39%. The ex-dividend date is Tuesday, January 7th. Bank of Nova Scotia's payout ratio is 72.45%.

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.