Wellington Management Group LLP bought a new position in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,078,801 shares of the bank's stock, valued at approximately $354,379,000. Wellington Management Group LLP owned 0.33% of Bank of Nova Scotia as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the stock. Prospera Financial Services Inc boosted its position in Bank of Nova Scotia by 3.9% in the 4th quarter. Prospera Financial Services Inc now owns 4,625 shares of the bank's stock worth $341,000 after purchasing an additional 173 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Bank of Nova Scotia by 22.3% in the 4th quarter. Larson Financial Group LLC now owns 1,280 shares of the bank's stock valued at $94,000 after purchasing an additional 233 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Bank of Nova Scotia by 8.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,193 shares of the bank's stock valued at $235,000 after purchasing an additional 239 shares during the period. Parallel Advisors LLC boosted its holdings in Bank of Nova Scotia by 8.5% during the third quarter. Parallel Advisors LLC now owns 3,326 shares of the bank's stock worth $215,000 after buying an additional 261 shares in the last quarter. Finally, Kathmere Capital Management LLC grew its position in Bank of Nova Scotia by 8.5% during the first quarter. Kathmere Capital Management LLC now owns 3,579 shares of the bank's stock valued at $248,000 after buying an additional 281 shares during the period. 49.13% of the stock is currently owned by hedge funds and other institutional investors.
Bank of Nova Scotia Stock Performance
BNS opened at $92.35 on Monday. The firm's fifty day simple moving average is $88.14 and its two-hundred day simple moving average is $80.16. Bank of Nova Scotia has a 52-week low of $61.69 and a 52-week high of $94.96. The company has a market cap of $112.56 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 1.05 and a beta of 1.11. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.98.
Bank of Nova Scotia Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Tuesday, October 6th will be paid a $1.14 dividend. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $4.56 dividend on an annualized basis and a yield of 4.9%. Bank of Nova Scotia's dividend payout ratio (DPR) is currently 58.05%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. TD Securities raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, August 25th. National Bank Financial upgraded Bank of Nova Scotia from a "sector perform" rating to an "outperform" rating in a research report on Wednesday, August 26th. Keefe, Bruyette & Woods began coverage on Bank of Nova Scotia in a research note on Friday, August 21st. They issued an "outperform" rating for the company. Royal Bank Of Canada upped their price target on Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a "sector perform" rating in a report on Thursday, May 28th. Finally, Weiss Ratings downgraded Bank of Nova Scotia from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Tuesday, August 18th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $117.00.
Check Out Our Latest Research Report on Bank of Nova Scotia
Bank of Nova Scotia Profile
(
Free Report)
Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada's largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.
Scotiabank's core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.
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