31,940 Shares in The Bank of Nova Scotia (NYSE:BNS) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 31,940 shares of the bank's stock, valued at approximately $1,716,000.

Several other institutional investors and hedge funds also recently made changes to their positions in BNS. Magnus Financial Group LLC raised its holdings in Bank of Nova Scotia by 4.1% in the fourth quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank's stock valued at $274,000 after acquiring an additional 200 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Bank of Nova Scotia by 3.5% in the 4th quarter. Private Advisor Group LLC now owns 6,248 shares of the bank's stock valued at $336,000 after purchasing an additional 211 shares in the last quarter. Moran Wealth Management LLC lifted its position in shares of Bank of Nova Scotia by 6.5% during the fourth quarter. Moran Wealth Management LLC now owns 3,925 shares of the bank's stock worth $211,000 after purchasing an additional 240 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Bank of Nova Scotia by 10.2% in the fourth quarter. Lindbrook Capital LLC now owns 2,860 shares of the bank's stock valued at $154,000 after buying an additional 264 shares during the last quarter. Finally, Merit Financial Group LLC raised its stake in Bank of Nova Scotia by 5.8% during the fourth quarter. Merit Financial Group LLC now owns 4,905 shares of the bank's stock valued at $264,000 after buying an additional 271 shares in the last quarter. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Stock Performance

NYSE:BNS traded down $0.07 during mid-day trading on Monday, hitting $50.28. The stock had a trading volume of 959,999 shares, compared to its average volume of 1,687,422. The Bank of Nova Scotia has a 52 week low of $43.68 and a 52 week high of $57.07. 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 stock has a market capitalization of $62.62 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 1.16 and a beta of 1.11. The company has a 50 day simple moving average of $47.92 and a 200-day simple moving average of $51.27.

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 given a dividend of $0.7415 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.97 annualized dividend and a dividend yield of 5.90%. Bank of Nova Scotia's dividend payout ratio is presently 83.05%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BNS shares. CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Cibc World Mkts lowered shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Royal Bank of Canada dropped their price objective 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 note on Wednesday, February 26th. Finally, Bank of America downgraded Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $81.00.

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.