Caisse DE Depot ET Placement DU Quebec Acquires New Position in The Bank of Nova Scotia (NYSE:BNS)

Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 572,000 shares of the bank's stock, valued at approximately $30,700,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BNS. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Bank of Nova Scotia during the 4th quarter worth approximately $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at $31,000. Allworth Financial LP lifted its stake in Bank of Nova Scotia by 121.1% in the fourth quarter. Allworth Financial LP now owns 639 shares of the bank's stock valued at $33,000 after buying an additional 350 shares in the last quarter. Fortitude Family Office LLC bought a new position in shares of Bank of Nova Scotia during the fourth quarter worth about $73,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in Bank of Nova Scotia in the 4th quarter valued at $83,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Trading Up 0.2 %

Bank of Nova Scotia stock traded up $0.11 during trading hours on Wednesday, reaching $50.11. The company had a trading volume of 1,439,451 shares, compared to its average volume of 2,026,509. The firm has a market cap of $62.41 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month 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. The company has a 50-day moving average price of $47.93 and a 200 day moving average price of $51.23.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st were issued a $0.7415 dividend. This represents a $2.97 annualized dividend and a yield of 5.92%. The ex-dividend date of this dividend was Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio (DPR) is 83.05%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Bank of America downgraded shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a 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 cut 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 report on Wednesday, February 26th. Finally, Cibc World Mkts cut Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $81.00.

About Bank of Nova Scotia

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.