FIL Ltd Has $138.69 Million Stake in The Bank of Nova Scotia (NYSE:BNS)

FIL Ltd lifted its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 37.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,582,696 shares of the bank's stock after purchasing an additional 708,999 shares during the period. FIL Ltd owned approximately 0.21% of Bank of Nova Scotia worth $138,689,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Bank of Nova Scotia in the fourth quarter worth about $690,746,000. Toronto Dominion Bank grew its position in shares of Bank of Nova Scotia by 9.6% during the 3rd quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank's stock worth $1,361,752,000 after buying an additional 2,195,604 shares during the period. Geode Capital Management LLC grew its position in shares of Bank of Nova Scotia by 31.8% during the 4th quarter. Geode Capital Management LLC now owns 7,433,171 shares of the bank's stock worth $406,103,000 after buying an additional 1,792,700 shares during the period. Vanguard Group Inc. raised its stake in shares of Bank of Nova Scotia by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank's stock worth $2,758,150,000 after buying an additional 969,488 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its holdings in Bank of Nova Scotia by 370.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 883,511 shares of the bank's stock valued at $47,391,000 after buying an additional 695,519 shares during the period. 49.13% of the stock is currently owned by institutional investors and hedge funds.

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Bank of Nova Scotia Trading Up 1.6 %

Bank of Nova Scotia stock traded up $0.74 during mid-day trading on Monday, hitting $46.80. 379,575 shares of the company's stock were exchanged, compared to its average volume of 1,675,192. The Bank of Nova Scotia has a fifty-two week low of $43.68 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 firm has a market capitalization of $58.29 billion, a P/E ratio of 10.83, a PEG ratio of 1.16 and a beta of 1.02. The company's 50 day simple moving average is $48.65 and its 200-day simple moving average is $51.76.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.7415 per share. This represents a $2.97 annualized dividend and a dividend yield of 6.34%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 83.05%.

Analysts Set New Price Targets

Several brokerages have commented on BNS. 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 research report on Wednesday, February 26th. Bank of America downgraded Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. Cibc World Mkts cut Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, CIBC reaffirmed a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price 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.