Mufg Securities Canada LTD. lifted its position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 25.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,900,294 shares of the bank's stock after buying an additional 388,961 shares during the quarter. Bank of Nova Scotia comprises 3.7% of Mufg Securities Canada LTD.'s investment portfolio, making the stock its 10th largest holding. Mufg Securities Canada LTD. owned 0.15% of Bank of Nova Scotia worth $101,977,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Bank of Nova Scotia by 17.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank's stock valued at $241,981,000 after purchasing an additional 660,097 shares in the last quarter. Citigroup Inc. lifted its position in shares of Bank of Nova Scotia by 12.3% in the third quarter. Citigroup Inc. now owns 580,664 shares of the bank's stock worth $31,673,000 after buying an additional 63,528 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Bank of Nova Scotia by 10.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank's stock worth $310,817,000 after acquiring an additional 524,496 shares in the last quarter. Galibier Capital Management Ltd. lifted its position in Bank of Nova Scotia by 38,283.3% during the 4th quarter. Galibier Capital Management Ltd. now owns 476,721 shares of the bank's stock worth $25,586,000 after acquiring an additional 475,479 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Bank of Nova Scotia by 7.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,095,285 shares of the bank's stock valued at $58,839,000 after acquiring an additional 77,820 shares during the period. Institutional investors and hedge funds own 49.13% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on BNS. Royal Bank of Canada lowered 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 note on Wednesday, February 26th. Cibc World Mkts cut shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Finally, CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. One 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. Based on data from MarketBeat, Bank of Nova Scotia has a consensus rating of "Hold" and an average price target of $81.00.
Check Out Our Latest Report on Bank of Nova Scotia
Bank of Nova Scotia Price Performance
NYSE:BNS traded down $0.60 on Friday, reaching $47.74. The stock had a trading volume of 3,683,865 shares, compared to its average volume of 1,641,301. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $59.46 billion, a P/E ratio of 11.05, 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 $43.68 and a 1-year high of $57.07. The stock has a fifty day moving average price of $49.87 and a 200-day moving average price of $52.33.
Bank of Nova Scotia Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be paid a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date of this dividend is Tuesday, April 1st. 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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