AXA S.A. boosted its holdings in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 39.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 393,798 shares of the bank's stock after purchasing an additional 110,452 shares during the quarter. AXA S.A.'s holdings in Bank of Nova Scotia were worth $21,155,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BNS. Vanguard Group Inc. boosted 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 valued at $2,758,150,000 after purchasing an additional 969,488 shares during the period. TD Asset Management Inc. boosted its holdings in Bank of Nova Scotia by 1.7% during the fourth quarter. TD Asset Management Inc. now owns 18,966,078 shares of the bank's stock worth $1,017,933,000 after buying an additional 308,837 shares in the last quarter. Norges Bank acquired a new stake in shares of Bank of Nova Scotia during the 4th quarter valued at about $690,746,000. CIBC Asset Management Inc grew its stake in 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 valued at $551,766,000 after acquiring an additional 184,761 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Bank of Nova Scotia by 5.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,096,123 shares of the bank's stock worth $434,196,000 after buying an additional 385,333 shares during the last quarter. Hedge funds and other institutional investors own 49.13% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on BNS. Royal Bank of Canada cut their target price on 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 reiterated a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Cibc World Mkts downgraded Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, Bank of America cut Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. One investment 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. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $81.00.
Check Out Our Latest Research Report on BNS
Bank of Nova Scotia Stock Up 0.2 %
Shares of NYSE:BNS traded up $0.11 during midday trading on Wednesday, hitting $50.11. 1,465,955 shares of the company's stock traded hands, compared to its average volume of 1,689,842. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The Bank of Nova Scotia has a twelve month low of $43.68 and a twelve month high of $57.07. The firm's fifty day moving average price is $47.94 and its two-hundred day moving average price is $51.23. The company has a market cap of $62.41 billion, a PE ratio of 11.60, a P/E/G ratio of 1.16 and a beta of 1.11.
Bank of Nova Scotia Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Tuesday, April 1st were paid a dividend of $0.7415 per share. 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 presently 83.05%.
Bank of Nova Scotia Company 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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