The Bank of Nova Scotia (NYSE:BNS) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. grew its position in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,299,271 shares of the bank's stock after acquiring an additional 12,073 shares during the period. Franklin Resources Inc. owned about 0.10% of Bank of Nova Scotia worth $69,680,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BNS. Murphy & Mullick Capital Management Corp bought a new position in shares of Bank of Nova Scotia during the fourth quarter valued at $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Bank of Nova Scotia in the 4th quarter worth about $31,000. Allworth Financial LP lifted its stake in shares of Bank of Nova Scotia by 121.1% in the 4th 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 last quarter. BNP Paribas Financial Markets raised 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 valued at $47,000 after acquiring an additional 810 shares during the period. Finally, Fortitude Family Office LLC bought a new position in shares of Bank of Nova Scotia during the fourth quarter valued at approximately $73,000. Hedge funds and other institutional investors own 49.13% of the company's stock.

Analysts Set New Price Targets

BNS has been the topic of several recent analyst reports. Bank of America downgraded shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. Royal Bank of Canada reduced 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 report on Wednesday, February 26th. 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 restated a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia presently has an average rating of "Hold" and a consensus target price of $81.00.

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Bank of Nova Scotia Trading Up 2.7 %

NYSE:BNS traded up $1.22 on Tuesday, hitting $45.78. The stock had a trading volume of 641,593 shares, compared to its average volume of 2,020,787. 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 market cap of $57.02 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 1.16 and a beta of 1.02. The company has a fifty day moving average price of $49.30 and a two-hundred day moving average price of $52.10. 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 firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.7415 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 6.48%. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 82.77%.

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.