Norges Bank Acquires Shares of 13,402,099 The Bank of Nova Scotia (NYSE:BNS)

Norges Bank purchased a new position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,402,099 shares of the bank's stock, valued at approximately $652,409,000. Norges Bank owned 1.10% of Bank of Nova Scotia as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Metis Global Partners LLC increased its holdings in Bank of Nova Scotia by 0.4% during the 4th quarter. Metis Global Partners LLC now owns 59,065 shares of the bank's stock worth $2,875,000 after purchasing an additional 258 shares during the period. Pacifica Partners Inc. increased its holdings in Bank of Nova Scotia by 1.5% during the 4th quarter. Pacifica Partners Inc. now owns 19,185 shares of the bank's stock worth $851,000 after purchasing an additional 285 shares during the period. Fifth Third Bancorp increased its holdings in Bank of Nova Scotia by 71.6% during the 4th quarter. Fifth Third Bancorp now owns 858 shares of the bank's stock worth $42,000 after purchasing an additional 358 shares during the period. Exencial Wealth Advisors LLC increased its holdings in Bank of Nova Scotia by 2.0% during the 3rd quarter. Exencial Wealth Advisors LLC now owns 21,042 shares of the bank's stock worth $959,000 after purchasing an additional 416 shares during the period. Finally, Merit Financial Group LLC increased its holdings in Bank of Nova Scotia by 4.1% during the 4th quarter. Merit Financial Group LLC now owns 11,047 shares of the bank's stock worth $538,000 after purchasing an additional 434 shares during the period. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Stock Down 0.7 %

Shares of Bank of Nova Scotia stock traded down $0.33 during trading on Monday, reaching $48.06. The company's stock had a trading volume of 776,119 shares, compared to its average volume of 1,947,420. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.56. The company has a market cap of $59.09 billion, a price-to-earnings ratio of 10.63, a P/E/G ratio of 1.60 and a beta of 1.06. The Bank of Nova Scotia has a 1-year low of $39.79 and a 1-year high of $51.98. The company has a 50-day simple moving average of $48.60 and a two-hundred day simple moving average of $47.11.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last posted its quarterly earnings data on Tuesday, February 27th. The bank reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.06. Bank of Nova Scotia had a return on equity of 11.51% and a net margin of 10.71%. The firm had revenue of $14.13 billion during the quarter, compared to analysts' expectations of $6.01 billion. During the same quarter last year, the firm earned $1.37 EPS. As a group, equities analysts forecast that The Bank of Nova Scotia will post 4.9 earnings per share for the current year.

Bank of Nova Scotia Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Tuesday, April 2nd were given a dividend of $0.7843 per share. The ex-dividend date was Monday, April 1st. This represents a $3.14 dividend on an annualized basis and a yield of 6.53%. This is a boost from Bank of Nova Scotia's previous quarterly dividend of $0.78. Bank of Nova Scotia's payout ratio is currently 69.25%.

Analysts Set New Price Targets

Several research firms have commented on BNS. Barclays assumed coverage on Bank of Nova Scotia in a report on Wednesday, March 20th. They set an "underweight" rating and a $70.00 price objective on the stock. Jefferies Financial Group assumed coverage on Bank of Nova Scotia in a research report on Thursday, February 22nd. They set a "hold" rating on the stock. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. Based on data from MarketBeat, Bank of Nova Scotia currently has a consensus rating of "Hold" and an average target price 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.