The Bank of Nova Scotia (NYSE:BNS) Stock Position Raised by Toronto Dominion Bank

Toronto Dominion Bank raised its position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 9.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,990,868 shares of the bank's stock after acquiring an additional 2,195,604 shares during the quarter. Bank of Nova Scotia makes up about 2.4% of Toronto Dominion Bank's holdings, making the stock its 8th biggest holding. Toronto Dominion Bank owned about 2.01% of Bank of Nova Scotia worth $1,361,752,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position 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 buying an additional 524,496 shares during the last quarter. Executive Wealth Management LLC purchased a new stake in shares of Bank of Nova Scotia during the 3rd quarter worth approximately $619,000. Abel Hall LLC acquired a new position in shares of Bank of Nova Scotia in the 3rd quarter valued at $218,000. Barclays PLC increased its holdings in shares of Bank of Nova Scotia by 27.5% in the 3rd quarter. Barclays PLC now owns 214,957 shares of the bank's stock valued at $11,712,000 after acquiring an additional 46,421 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Bank of Nova Scotia in the 3rd quarter valued at $10,363,000. Hedge funds and other institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Price Performance

Shares of NYSE BNS traded down $0.08 during trading on Wednesday, hitting $55.75. 369,070 shares of the company were exchanged, compared to its average volume of 1,743,739. The company has a market cap of $69.38 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 1.25 and a beta of 1.07. The Bank of Nova Scotia has a 1 year low of $43.67 and a 1 year high of $57.07. The firm's fifty day moving average price is $53.98 and its 200 day moving average price is $50.12. 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 disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th will be given a $0.7535 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.01 annualized dividend and a dividend yield of 5.41%. Bank of Nova Scotia's dividend payout ratio is presently 72.45%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. 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. TD Securities raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Cibc World Mkts raised shares of Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 20th. Finally, UBS Group raised shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $72.00.

Bank of Nova Scotia Company Profile

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.