Plato Investment Management Ltd grew its holdings in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 406.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,667 shares of the bank's stock after buying an additional 13,379 shares during the quarter. Plato Investment Management Ltd's holdings in Bank of Nova Scotia were worth $898,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in Bank of Nova Scotia by 121.1% during the 4th quarter. Allworth Financial LP now owns 639 shares of the bank's stock worth $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 3rd 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. Fortitude Family Office LLC purchased a new stake in Bank of Nova Scotia in the fourth quarter valued at approximately $73,000. Wilmington Savings Fund Society FSB acquired a new position in Bank of Nova Scotia during the 3rd quarter worth about $111,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Bank of Nova Scotia by 11.9% during the third quarter. Farther Finance Advisors LLC now owns 2,713 shares of the bank's stock worth $148,000 after purchasing an additional 288 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. 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 upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Cibc World Mkts cut Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. CIBC reiterated a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Finally, Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $75.50.
View Our Latest Research Report on BNS
Bank of Nova Scotia Price Performance
Shares of BNS stock traded up $0.18 during midday trading on Friday, reaching $48.33. 1,310,440 shares of the company traded hands, compared to its average volume of 1,864,990. The firm's 50 day simple moving average is $51.24 and its two-hundred day simple moving average is $52.45. 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 firm has a market cap of $60.19 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. 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 announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. This represents a $2.97 dividend on an annualized basis and a yield of 6.14%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia's payout ratio is currently 82.77%.
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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