Geode Capital Management LLC boosted its position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 10.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,640,471 shares of the bank's stock after buying an additional 524,496 shares during the quarter. Geode Capital Management LLC owned approximately 0.46% of Bank of Nova Scotia worth $310,817,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of BNS. Executive Wealth Management LLC bought a new stake in shares of Bank of Nova Scotia in the 3rd quarter valued at approximately $619,000. Abel Hall LLC bought a new stake in Bank of Nova Scotia during the third quarter valued at $218,000. Barclays PLC increased its stake in Bank of Nova Scotia by 27.5% during the third quarter. Barclays PLC now owns 214,957 shares of the bank's stock valued at $11,712,000 after purchasing an additional 46,421 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Bank of Nova Scotia in the 3rd quarter worth about $10,363,000. Finally, Y Intercept Hong Kong Ltd boosted its holdings in shares of Bank of Nova Scotia by 46.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 24,285 shares of the bank's stock valued at $1,323,000 after buying an additional 7,657 shares during the period. Institutional investors and hedge funds own 49.13% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently weighed in on BNS. Barclays upgraded shares of Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a research note on Thursday, November 21st. Bank of America upgraded Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Tuesday, November 19th. Cibc World Mkts upgraded Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 20th. UBS Group raised Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Monday, November 18th. Finally, Canaccord Genuity Group raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $72.00.
Read Our Latest Analysis on Bank of Nova Scotia
Bank of Nova Scotia Stock Performance
BNS traded up $0.17 during trading hours on Friday, hitting $55.42. The company's stock had a trading volume of 862,444 shares, compared to its average volume of 1,737,188. The company has a 50-day simple moving average of $54.13 and a 200 day simple moving average of $50.26. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $69.00 billion, a PE ratio of 12.83, a PEG ratio of 1.26 and a beta of 1.07. The Bank of Nova Scotia has a fifty-two week low of $43.67 and a fifty-two week high of $57.07.
Bank of Nova Scotia Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th will be paid a dividend of $0.7535 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date is Tuesday, January 7th. Bank of Nova Scotia's dividend payout ratio is currently 72.45%.
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.
Featured Articles
Before you consider Bank of Nova Scotia, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of Nova Scotia wasn't on the list.
While Bank of Nova Scotia currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for December 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
