First National Trust Co Boosts Stake in The Bank of Nova Scotia (NYSE:BNS)

First National Trust Co raised its holdings in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 208.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,739 shares of the bank's stock after purchasing an additional 19,421 shares during the period. First National Trust Co's holdings in Bank of Nova Scotia were worth $1,544,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Bank of Nova Scotia in the fourth quarter valued at approximately $31,000. Allworth Financial LP grew its holdings in Bank of Nova Scotia by 121.1% in the fourth quarter. Allworth Financial LP now owns 639 shares of the bank's stock valued at $33,000 after purchasing an additional 350 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of 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 worth $47,000 after acquiring an additional 810 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in shares of Bank of Nova Scotia in the fourth quarter worth approximately $73,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Bank of Nova Scotia in the third quarter worth approximately $111,000. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Trading Down 0.3 %

Bank of Nova Scotia stock traded down $0.14 during trading on Wednesday, reaching $48.22. 2,712,803 shares of the company were exchanged, compared to its average volume of 1,605,245. The Bank of Nova Scotia has a 52-week low of $43.68 and a 52-week high of $57.07. 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 company has a market capitalization of $60.05 billion, a P/E ratio of 11.16, a PEG ratio of 1.16 and a beta of 1.11. The stock's 50 day simple moving average is $50.35 and its two-hundred day simple moving average is $52.47.

Remove Ads

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 given a $0.7415 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 6.15%. Bank of Nova Scotia's dividend payout ratio is currently 82.77%.

Wall Street Analyst Weigh In

BNS has been the topic of a number of research analyst reports. CIBC reaffirmed a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Canaccord Genuity Group raised Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Barclays raised Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a research note on Thursday, November 21st. Canaccord Genuity Group upgraded Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada reduced their price objective on 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Bank of Nova Scotia has a consensus rating of "Hold" and a consensus target price of $75.50.

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.