Addenda Capital Inc. Has $58.01 Million Position in The Bank of Nova Scotia (NYSE:BNS)

Addenda Capital Inc. raised its stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 1.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,191,484 shares of the bank's stock after purchasing an additional 21,772 shares during the period. Bank of Nova Scotia accounts for approximately 2.8% of Addenda Capital Inc.'s holdings, making the stock its 8th biggest holding. Addenda Capital Inc. owned 0.10% of Bank of Nova Scotia worth $58,013,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Bank of Nova Scotia by 59.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 26,438 shares of the bank's stock worth $1,896,000 after purchasing an additional 9,818 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Bank of Nova Scotia by 2.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,359 shares of the bank's stock worth $1,317,000 after buying an additional 475 shares during the period. Cetera Advisor Networks LLC bought a new stake in Bank of Nova Scotia in the 1st quarter valued at $366,000. Private Advisor Group LLC raised its stake in shares of Bank of Nova Scotia by 56.3% in the 1st quarter. Private Advisor Group LLC now owns 7,272 shares of the bank's stock valued at $522,000 after buying an additional 2,619 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Bank of Nova Scotia by 10.3% in the 1st quarter. BlackRock Inc. now owns 870,918 shares of the bank's stock valued at $62,462,000 after buying an additional 81,002 shares in the last quarter. Institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Trading Down 0.7 %

Shares of BNS stock traded down $0.34 during trading hours on Thursday, hitting $49.94. 1,430,264 shares of the company were exchanged, compared to its average volume of 2,089,919. The firm has a market cap of $61.03 billion, a P/E ratio of 11.13, a P/E/G ratio of 1.65 and a beta of 1.04. The Bank of Nova Scotia has a fifty-two week low of $39.79 and a fifty-two week high of $51.98. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50 day simple moving average of $48.54 and a two-hundred day simple moving average of $46.17.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last released its earnings results on Tuesday, February 27th. The bank reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.06. The company had revenue of $14.13 billion for the quarter, compared to analysts' expectations of $6.01 billion. Bank of Nova Scotia had a return on equity of 11.51% and a net margin of 10.71%. During the same period in the previous year, the business posted $1.37 EPS. Equities analysts anticipate that The Bank of Nova Scotia will post 4.9 EPS for the current year.

Bank of Nova Scotia Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Tuesday, April 2nd will be issued a dividend of $0.7843 per share. This is a positive change from Bank of Nova Scotia's previous quarterly dividend of $0.78. The ex-dividend date is Monday, April 1st. This represents a $3.14 annualized dividend and a dividend yield of 6.28%. Bank of Nova Scotia's payout ratio is presently 34.96%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BNS shares. Jefferies Financial Group began coverage on shares of Bank of Nova Scotia in a research note on Thursday, February 22nd. They issued a "hold" rating on the stock. Barclays initiated coverage on shares of Bank of Nova Scotia in a research report on Wednesday, March 20th. They set an "underweight" rating and a $70.00 price target on the stock. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, Bank of Nova Scotia currently has a consensus rating of "Hold" and a consensus price target of $68.00.

Bank of Nova Scotia 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.