Advisory Services Network LLC Acquires Shares of 15,622 The Bank of Nova Scotia (NYSE:BNS)

Advisory Services Network LLC bought a new stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 15,622 shares of the bank's stock, valued at approximately $839,000.

Several other hedge funds and other institutional investors also recently modified their holdings of BNS. Renaissance Technologies LLC lifted its holdings in Bank of Nova Scotia by 684.9% in the fourth quarter. Renaissance Technologies LLC now owns 218,200 shares of the bank's stock valued at $11,722,000 after buying an additional 190,400 shares during the period. FIL Ltd grew its stake in Bank of Nova Scotia by 37.8% during the fourth quarter. FIL Ltd now owns 2,582,696 shares of the bank's stock worth $138,689,000 after purchasing an additional 708,999 shares during the period. Invesco Ltd. increased its holdings in Bank of Nova Scotia by 0.8% in the fourth quarter. Invesco Ltd. now owns 2,363,708 shares of the bank's stock worth $126,978,000 after purchasing an additional 18,704 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Bank of Nova Scotia by 0.9% in the fourth quarter. Russell Investments Group Ltd. now owns 1,334,685 shares of the bank's stock valued at $71,777,000 after buying an additional 12,078 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Bank of Nova Scotia by 22.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 7,621 shares of the bank's stock worth $409,000 after buying an additional 1,413 shares in the last quarter. Institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Stock Up 0.7 %

BNS traded up $0.35 during trading on Friday, hitting $47.46. 1,308,893 shares of the company's stock were exchanged, compared to its average volume of 1,676,652. The stock has a market cap of $59.11 billion, a P/E ratio of 10.99, a PEG ratio of 1.16 and a beta of 1.02. The business's 50 day moving average is $48.28 and its two-hundred day moving average is $51.52. The Bank of Nova Scotia has a fifty-two week low of $43.68 and a fifty-two week high of $57.07. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.7415 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 6.25%. Bank of Nova Scotia's dividend payout ratio (DPR) is currently 83.05%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. 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 on the stock in a research report on Wednesday, February 26th. CIBC reiterated a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Bank of America cut shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. Finally, Cibc World Mkts lowered Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $81.00.

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.