Nuveen Asset Management LLC raised its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,409,616 shares of the bank's stock after acquiring an additional 11,601 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.11% of Bank of Nova Scotia worth $75,656,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Bank of Nova Scotia in the 4th quarter valued at $690,746,000. Geode Capital Management LLC grew its holdings in Bank of Nova Scotia by 31.8% in the fourth quarter. Geode Capital Management LLC now owns 7,433,171 shares of the bank's stock worth $406,103,000 after purchasing an additional 1,792,700 shares during the period. Vanguard Group Inc. raised its holdings in Bank of Nova Scotia by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank's stock valued at $2,758,150,000 after acquiring an additional 969,488 shares during the period. FIL Ltd grew its position in Bank of Nova Scotia by 37.8% in the fourth quarter. FIL Ltd now owns 2,582,696 shares of the bank's stock worth $138,689,000 after acquiring an additional 708,999 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its stake in Bank of Nova Scotia by 370.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 883,511 shares of the bank's stock worth $47,391,000 after buying an additional 695,519 shares in the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
BNS has been the subject of a number of recent analyst reports. CIBC reaffirmed a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Royal Bank of Canada dropped their price target on 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. Bank of America downgraded Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note 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 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 MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $81.00.
Check Out Our Latest Research Report on BNS
Bank of Nova Scotia Price Performance
Shares of NYSE:BNS traded down $0.09 during midday trading on Wednesday, reaching $51.57. 1,921,328 shares of the company's stock were exchanged, compared to its average volume of 1,707,541. The firm has a market capitalization of $64.23 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The company's 50 day simple moving average is $48.45 and its two-hundred day simple moving average is $51.14. 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 12 month low of $43.68 and a 12 month high of $57.07.
Bank of Nova Scotia Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.7415 per share. This represents a $2.97 annualized dividend and a dividend yield of 5.75%. The ex-dividend date was Tuesday, April 1st. Bank of Nova Scotia's payout ratio is 83.05%.
Bank of Nova Scotia 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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