Bridgewater Associates LP boosted its holdings in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 67.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,431 shares of the bank's stock after acquiring an additional 55,202 shares during the quarter. Bridgewater Associates LP's holdings in Bank of Nova Scotia were worth $7,376,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Guggenheim Capital LLC grew its position in Bank of Nova Scotia by 34.9% in the 4th quarter. Guggenheim Capital LLC now owns 8,608 shares of the bank's stock valued at $462,000 after buying an additional 2,226 shares in the last quarter. Mariner LLC increased its stake in shares of Bank of Nova Scotia by 4.0% during the fourth quarter. Mariner LLC now owns 40,894 shares of the bank's stock valued at $2,197,000 after acquiring an additional 1,570 shares during the period. Barclays PLC raised its holdings in Bank of Nova Scotia by 59.6% during the fourth quarter. Barclays PLC now owns 343,006 shares of the bank's stock worth $18,425,000 after purchasing an additional 128,049 shares in the last quarter. Townsquare Capital LLC raised its stake in shares of Bank of Nova Scotia by 12.7% in the 4th quarter. Townsquare Capital LLC now owns 5,760 shares of the bank's stock worth $309,000 after buying an additional 650 shares in the last quarter. Finally, LSV Asset Management raised its position in Bank of Nova Scotia by 12.1% in the fourth quarter. LSV Asset Management now owns 3,700 shares of the bank's stock worth $199,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company's stock.
Analysts Set New Price Targets
Several research analysts have issued reports on BNS shares. Bank of America lowered shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. CIBC reiterated a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Royal Bank of Canada decreased 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 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 research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $81.00.
View Our Latest Stock Report on Bank of Nova Scotia
Bank of Nova Scotia Price Performance
Shares of BNS stock traded up $0.62 during trading hours on Tuesday, hitting $48.08. The company had a trading volume of 230,287 shares, compared to its average volume of 1,673,937. 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 firm has a market capitalization of $59.89 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 1.16 and a beta of 1.02. The Bank of Nova Scotia has a 12 month low of $43.68 and a 12 month high of $57.07. The firm's fifty day moving average is $48.21 and its 200 day moving average is $51.48.
Bank of Nova Scotia Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. This represents a $2.97 annualized dividend and a dividend yield of 6.17%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia's payout ratio is 83.05%.
About Bank of Nova Scotia
(
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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