Mediolanum International Funds Ltd acquired a new position in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,445 shares of the bank's stock, valued at approximately $292,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Toronto Dominion Bank lifted its stake in Bank of Nova Scotia by 9.6% in the third quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank's stock worth $1,361,752,000 after acquiring an additional 2,195,604 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Bank of Nova Scotia by 24.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank's stock valued at $640,624,000 after purchasing an additional 2,346,995 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Bank of Nova Scotia by 2.4% in the 3rd quarter. CIBC Asset Management Inc now owns 10,074,518 shares of the bank's stock worth $550,729,000 after purchasing an additional 240,803 shares during the period. Geode Capital Management LLC boosted its stake in shares of Bank of Nova Scotia by 10.3% during the third quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank's stock valued at $310,817,000 after purchasing an additional 524,496 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Bank of Nova Scotia by 260.1% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank's stock valued at $298,575,000 after buying an additional 3,958,580 shares during the period. 49.13% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
BNS has been the subject of a number of analyst reports. Barclays upgraded Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a report on Thursday, November 21st. Canaccord Genuity Group raised Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. Bank of America raised Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a report on Tuesday, November 19th. Royal Bank of Canada raised their price objective on Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a "sector perform" rating in a research note on Wednesday, December 4th. Finally, TD Securities upgraded Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $72.00.
Read Our Latest Research Report on Bank of Nova Scotia
Bank of Nova Scotia Stock Performance
Bank of Nova Scotia stock traded up $0.42 during midday trading on Thursday, hitting $50.90. 1,596,158 shares of the company were exchanged, compared to its average volume of 2,214,400. The business has a fifty day simple moving average of $53.22 and a two-hundred day simple moving average of $51.85. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $63.39 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 1.16 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 company also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.7535 per share. This represents a $3.01 annualized dividend and a dividend yield of 5.92%. The ex-dividend date was Tuesday, January 7th. Bank of Nova Scotia's dividend payout ratio (DPR) is 68.29%.
Bank of Nova Scotia Profile
(
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.
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