Samalin Investment Counsel LLC purchased a new stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,740 shares of the bank's stock, valued at approximately $577,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Toronto Dominion Bank lifted its position in shares of Bank of Nova Scotia by 9.6% during the 3rd quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank's stock valued at $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 Bank of Nova Scotia by 24.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank's stock worth $640,624,000 after purchasing an additional 2,346,995 shares during the last quarter. CIBC Asset Management Inc boosted its position in Bank of Nova Scotia by 1.8% during the fourth quarter. CIBC Asset Management Inc now owns 10,259,279 shares of the bank's stock worth $551,766,000 after purchasing an additional 184,761 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Bank of Nova Scotia by 5.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,096,123 shares of the bank's stock valued at $434,196,000 after purchasing an additional 385,333 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Bank of Nova Scotia by 10.3% in the third quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank's stock valued at $310,817,000 after buying an additional 524,496 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on BNS shares. CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Cibc World Mkts downgraded Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada decreased their price objective on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Bank of Nova Scotia has a consensus rating of "Hold" and an average target price of $81.00.
Read Our Latest Stock Report on Bank of Nova Scotia
Bank of Nova Scotia Stock Down 0.8 %
NYSE BNS traded down $0.39 during trading hours on Thursday, hitting $48.35. The company had a trading volume of 1,218,620 shares, compared to its average volume of 1,621,618. The firm's 50 day moving average is $49.93 and its 200 day moving average is $52.35. 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 Bank of Nova Scotia has a fifty-two week low of $43.68 and a fifty-two week high of $57.07. The company has a market capitalization of $60.23 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 1.16 and a beta of 1.11.
Bank of Nova Scotia Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.7415 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.13%. Bank of Nova Scotia's dividend payout ratio is currently 82.77%.
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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