Invesco Ltd. boosted its stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,363,708 shares of the bank's stock after purchasing an additional 18,704 shares during the quarter. Invesco Ltd. owned about 0.19% of Bank of Nova Scotia worth $126,978,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of BNS. Russell Investments Group Ltd. increased its holdings in shares of Bank of Nova Scotia by 0.9% during the 4th quarter. Russell Investments Group Ltd. now owns 1,334,685 shares of the bank's stock worth $71,777,000 after buying an additional 12,078 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Bank of Nova Scotia by 22.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 7,621 shares of the bank's stock worth $409,000 after purchasing an additional 1,413 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of Bank of Nova Scotia by 3.7% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 474,559 shares of the bank's stock valued at $25,484,000 after purchasing an additional 16,743 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Bank of Nova Scotia during the 4th quarter worth approximately $1,165,000. Finally, Atlas Capital Advisors Inc. purchased a new position in Bank of Nova Scotia in the fourth quarter valued at approximately $83,000. Institutional investors and hedge funds own 49.13% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on BNS shares. Cibc World Mkts lowered shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Royal Bank of Canada dropped their target price on 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. Finally, Bank of America downgraded shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Bank of Nova Scotia currently has an average rating of "Hold" and a consensus target price of $81.00.
Get Our Latest Research Report on BNS
Bank of Nova Scotia Stock Performance
Shares of NYSE BNS traded up $0.01 during midday trading on Tuesday, hitting $46.88. The company's stock had a trading volume of 1,354,254 shares, compared to its average volume of 1,679,892. The firm has a market cap of $58.39 billion, a P/E ratio of 10.85, a P/E/G 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. The firm's fifty day moving average price is $48.49 and its 200-day moving average price is $51.67. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03.
Bank of Nova Scotia Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders 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 dividend yield of 6.33%. Bank of Nova Scotia's dividend payout ratio is currently 83.05%.
Bank of Nova Scotia Company Profile
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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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