TD Waterhouse Canada Inc. Raises Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

TD Waterhouse Canada Inc. boosted its position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 16.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,849,592 shares of the bank's stock after acquiring an additional 537,876 shares during the period. Bank of Nova Scotia accounts for approximately 1.7% of TD Waterhouse Canada Inc.'s portfolio, making the stock its 12th largest holding. TD Waterhouse Canada Inc. owned approximately 0.31% of Bank of Nova Scotia worth $206,325,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BNS. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Bank of Nova Scotia during the 4th quarter valued at approximately $25,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Bank of Nova Scotia during the 4th quarter worth about $31,000. Allworth Financial LP boosted its stake in Bank of Nova Scotia by 121.1% in 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 period. Fortitude Family Office LLC purchased a new position in Bank of Nova Scotia during the 4th quarter valued at about $73,000. Finally, Atlas Capital Advisors Inc. purchased a new position in Bank of Nova Scotia during the fourth quarter valued at approximately $83,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Price Performance

Shares of BNS stock traded up $0.24 during trading hours on Friday, hitting $48.80. 1,933,957 shares of the company's stock were exchanged, compared to its average volume of 1,694,382. The company has a market capitalization of $60.78 billion, a PE ratio of 11.30, a PEG ratio of 1.16 and a beta of 1.02. 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 12-month low of $43.68 and a 12-month high of $57.07. The business's 50 day simple moving average is $48.04 and its 200-day simple moving average is $51.41.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 annualized dividend and a yield of 6.08%. Bank of Nova Scotia's payout ratio is 83.05%.

Wall Street Analysts Forecast Growth

BNS has been the subject of several research analyst reports. Bank of America lowered Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. 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 research report on Wednesday, February 26th. CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Finally, Cibc World Mkts cut shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Bank of Nova Scotia presently has an average rating of "Hold" and an average price target of $81.00.

About Bank of Nova Scotia

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.