Orion Portfolio Solutions LLC raised its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 100.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,646 shares of the bank's stock after buying an additional 5,825 shares during the quarter. Orion Portfolio Solutions LLC's holdings in Bank of Nova Scotia were worth $626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Bank of Nova Scotia during the 4th quarter valued at $690,746,000. Toronto Dominion Bank grew its stake in shares of Bank of Nova Scotia by 9.6% during the third 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 last quarter. Vanguard Group Inc. raised its holdings in shares of Bank of Nova Scotia by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank's stock worth $2,758,150,000 after buying an additional 969,488 shares during the last quarter. Hillsdale Investment Management Inc. grew its stake in Bank of Nova Scotia by 370.0% during the 4th quarter. Hillsdale Investment Management Inc. now owns 883,511 shares of the bank's stock valued at $47,391,000 after purchasing an additional 695,519 shares during the last quarter. Finally, Guardian Partners Inc. acquired a new position in Bank of Nova Scotia in the 4th quarter worth approximately $31,515,000. Hedge funds and other institutional investors own 49.13% of the company's stock.
Analyst Ratings Changes
Several brokerages recently weighed in on BNS. Bank of America cut Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. CIBC reaffirmed 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 shares of Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a report on Wednesday, February 26th. Finally, 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia currently has a consensus rating of "Hold" and an average target price of $81.00.
Read Our Latest Analysis on Bank of Nova Scotia
Bank of Nova Scotia Price Performance
Bank of Nova Scotia stock traded up $0.58 during trading hours on Friday, hitting $46.06. The stock had a trading volume of 2,434,443 shares, compared to its average volume of 1,686,665. The stock's fifty day moving average is $48.65 and its two-hundred day moving average is $51.78. The stock has a market capitalization of $57.37 billion, a price-to-earnings ratio of 10.66, a PEG 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 company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03.
Bank of Nova Scotia Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors 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 6.44%. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 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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