Russell Investments Group Ltd. grew its position in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,334,685 shares of the bank's stock after buying an additional 12,078 shares during the quarter. Russell Investments Group Ltd. owned 0.11% of Bank of Nova Scotia worth $71,777,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the company. Magnus Financial Group LLC raised its holdings in Bank of Nova Scotia by 4.1% during the fourth quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank's stock worth $274,000 after purchasing an additional 200 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Bank of Nova Scotia by 3.5% in the fourth quarter. Private Advisor Group LLC now owns 6,248 shares of the bank's stock valued at $336,000 after buying an additional 211 shares in the last quarter. Moran Wealth Management LLC grew its holdings in Bank of Nova Scotia by 6.5% during the fourth quarter. Moran Wealth Management LLC now owns 3,925 shares of the bank's stock worth $211,000 after acquiring an additional 240 shares during the period. Lindbrook Capital LLC raised its position in Bank of Nova Scotia by 10.2% in the fourth quarter. Lindbrook Capital LLC now owns 2,860 shares of the bank's stock worth $154,000 after acquiring an additional 264 shares in the last quarter. Finally, Merit Financial Group LLC lifted its holdings in Bank of Nova Scotia by 5.8% in the fourth quarter. Merit Financial Group LLC now owns 4,905 shares of the bank's stock valued at $264,000 after acquiring an additional 271 shares during the period. Institutional investors and hedge funds own 49.13% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on the stock. Royal Bank of Canada decreased their price objective on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Bank of America lowered shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Finally, Cibc World Mkts downgraded shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $81.00.
Read Our Latest Stock Analysis on Bank of Nova Scotia
Bank of Nova Scotia Trading Up 1.3 %
NYSE BNS traded up $0.60 during mid-day trading on Friday, reaching $46.08. 705,115 shares of the stock were exchanged, compared to its average volume of 1,688,718. The business's fifty day simple moving average is $48.73 and its 200 day simple moving average is $51.83. 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 stock has a market capitalization of $57.40 billion, a PE ratio of 10.67, a PEG ratio of 1.16 and a beta of 1.02. The Bank of Nova Scotia has a 1-year low of $43.68 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. Investors of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 annualized dividend and a yield of 6.44%. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 82.77%.
Bank of Nova Scotia Company 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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