Orca Wealth Management LLC bought a new stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 16,532 shares of the bank's stock, valued at approximately $888,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Blue Trust Inc. increased its stake in shares of Bank of Nova Scotia by 98.6% during the fourth quarter. Blue Trust Inc. now owns 3,134 shares of the bank's stock valued at $171,000 after acquiring an additional 1,556 shares during the period. Cornerstone Wealth Management LLC boosted its stake in Bank of Nova Scotia by 2.0% during the 4th quarter. Cornerstone Wealth Management LLC now owns 20,020 shares of the bank's stock valued at $1,075,000 after purchasing an additional 401 shares in the last quarter. Magnus Financial Group LLC increased its position in shares of Bank of Nova Scotia by 4.1% during the 4th quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank's stock valued at $274,000 after purchasing an additional 200 shares during the period. Atomi Financial Group Inc. raised its stake in shares of Bank of Nova Scotia by 28.3% in the 4th quarter. Atomi Financial Group Inc. now owns 11,065 shares of the bank's stock worth $594,000 after buying an additional 2,439 shares in the last quarter. Finally, Addenda Capital Inc. lifted its holdings in shares of Bank of Nova Scotia by 4.0% in the fourth quarter. Addenda Capital Inc. now owns 1,175,246 shares of the bank's stock valued at $63,134,000 after buying an additional 44,692 shares during the period. 49.13% of the stock is currently owned by institutional investors.
Bank of Nova Scotia Trading Down 1.2 %
BNS stock traded down $0.63 during mid-day trading on Friday, reaching $51.24. 1,677,756 shares of the stock traded hands, compared to its average volume of 1,938,357. The stock's fifty day moving average is $53.60 and its 200-day moving average is $51.76. The company has a market cap of $63.81 billion, a P/E ratio of 11.86, a P/E/G ratio of 1.17 and a beta of 1.08. 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 Bank of Nova Scotia has a 52-week low of $43.67 and a 52-week high of $57.07.
Bank of Nova Scotia Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th were issued a $0.7535 dividend. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.88%. Bank of Nova Scotia's payout ratio is currently 68.29%.
Wall Street Analyst Weigh In
BNS has been the topic of a number of research analyst reports. TD Securities raised Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Monday, November 4th. UBS Group raised shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research note on Monday, November 18th. Barclays upgraded shares of Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a report on Thursday, November 21st. Bank of America upgraded shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a report on Tuesday, November 19th. Finally, Canaccord Genuity Group raised 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 issued a buy rating and one has assigned a strong buy rating to the stock. 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 Stock Analysis on Bank of Nova Scotia
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.
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