Guardian Capital LP Purchases 26,868 Shares of The Bank of Nova Scotia (NYSE:BNS)

Guardian Capital LP increased its position in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 481,235 shares of the bank's stock after buying an additional 26,868 shares during the period. Guardian Capital LP's holdings in Bank of Nova Scotia were worth $25,828,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BNS. Murphy & Mullick Capital Management Corp bought a new stake in Bank of Nova Scotia in the 4th quarter valued at $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Bank of Nova Scotia in the fourth quarter valued at about $31,000. Allworth Financial LP grew its position in Bank of Nova Scotia by 121.1% during the fourth quarter. Allworth Financial LP now owns 639 shares of the bank's stock worth $33,000 after buying an additional 350 shares in the last quarter. Fortitude Family Office LLC bought a new position in Bank of Nova Scotia during the fourth quarter valued at about $73,000. Finally, Atlas Capital Advisors Inc. acquired a new position in Bank of Nova Scotia in the 4th quarter valued at approximately $83,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Price Performance

NYSE BNS traded down $0.04 during trading hours on Monday, reaching $50.32. 356,709 shares of the company's stock were exchanged, compared to its average volume of 1,685,090. The firm has a fifty day moving average of $47.92 and a 200-day moving average of $51.27. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The Bank of Nova Scotia has a one year low of $43.68 and a one year high of $57.07. The stock has a market cap of $62.67 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st were given a $0.7415 dividend. This represents a $2.97 annualized dividend and a yield of 5.90%. The ex-dividend date was Tuesday, April 1st. Bank of Nova Scotia's payout ratio is presently 83.05%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Cibc World Mkts lowered Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. CIBC reissued 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 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. Finally, 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. 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. Based on data from MarketBeat, the stock presently 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.