TD Waterhouse Canada Inc. Raises Position in The Bank of Nova Scotia (NYSE:BNS)

TD Waterhouse Canada Inc. grew its position in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 16.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,849,592 shares of the bank's stock after purchasing an additional 537,876 shares during the period. Bank of Nova Scotia makes up about 1.7% of TD Waterhouse Canada Inc.'s holdings, making the stock its 12th largest holding. TD Waterhouse Canada Inc. owned about 0.31% of Bank of Nova Scotia worth $206,325,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp increased its stake in Bank of Nova Scotia by 1.4% during the third quarter. State Street Corp now owns 124,030 shares of the bank's stock worth $6,758,000 after purchasing an additional 1,690 shares during the period. Barclays PLC boosted its position in Bank of Nova Scotia by 27.5% in the 3rd quarter. Barclays PLC now owns 214,957 shares of the bank's stock valued at $11,712,000 after buying an additional 46,421 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Bank of Nova Scotia during the third quarter worth $111,000. Franklin Resources Inc. boosted its holdings in Bank of Nova Scotia by 15.4% in the third quarter. Franklin Resources Inc. now owns 1,287,198 shares of the bank's stock valued at $68,689,000 after purchasing an additional 171,539 shares during the period. Finally, Fortitude Family Office LLC acquired a new position in Bank of Nova Scotia during the 4th quarter worth $73,000. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Performance

Shares of NYSE BNS traded up $0.24 during trading hours on Friday, reaching $48.80. The stock had a trading volume of 1,933,957 shares, compared to its average volume of 1,693,592. The firm has a 50-day moving average of $48.00 and a 200-day moving average of $51.38. The firm has a market cap of $60.78 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.16 and a beta of 1.02. 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 fifty-two week low of $43.68 and a fifty-two week high of $57.07.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.08%. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 83.05%.

Analysts Set New Price Targets

BNS has been the subject of a number of analyst reports. Bank of America downgraded Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Cibc World Mkts downgraded Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, Royal Bank of Canada cut their target price on 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. One 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price 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.