US Bancorp DE grew its holdings in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 17.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,207 shares of the bank's stock after purchasing an additional 14,926 shares during the period. US Bancorp DE's holdings in Bank of Nova Scotia were worth $5,329,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank increased its holdings in 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 worth $1,361,752,000 after acquiring an additional 2,195,604 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Bank of Nova Scotia by 24.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank's stock worth $640,624,000 after buying an additional 2,346,995 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Bank of Nova Scotia by 1.8% in the 4th quarter. CIBC Asset Management Inc now owns 10,259,279 shares of the bank's stock worth $551,766,000 after buying an additional 184,761 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Bank of Nova Scotia by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank's stock worth $310,817,000 after buying an additional 524,496 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Bank of Nova Scotia by 260.1% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank's stock worth $298,575,000 after buying an additional 3,958,580 shares during the last quarter. Institutional investors own 49.13% of the company's stock.
Wall Street Analysts Forecast Growth
BNS has been the subject of a number of research reports. Royal Bank of Canada cut their price objective on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company 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. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Barclays raised shares of Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a research note on Thursday, November 21st. Finally, Bank of America raised shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Bank of Nova Scotia presently has an average rating of "Hold" and an average target price of $75.50.
View Our Latest Stock Report on Bank of Nova Scotia
Bank of Nova Scotia Trading Up 0.4 %
BNS traded up $0.18 during trading on Friday, hitting $48.33. 1,310,440 shares of the stock traded hands, compared to its average volume of 1,868,030. The firm has a market capitalization of $60.19 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. 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 firm has a 50-day moving average of $51.13 and a 200 day moving average of $52.45. The Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month high of $57.07.
Bank of Nova Scotia Cuts Dividend
The company 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 is Tuesday, April 1st. This represents a $2.97 annualized dividend and a yield of 6.14%. Bank of Nova Scotia's payout ratio is currently 82.77%.
About Bank of Nova Scotia
(
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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