Deutsche Bank AG Increases Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

Deutsche Bank AG increased its position in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 8.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,718,907 shares of the bank's stock after purchasing an additional 136,275 shares during the quarter. Deutsche Bank AG owned 0.14% of Bank of Nova Scotia worth $92,340,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dunhill Financial LLC acquired a new position in Bank of Nova Scotia during the fourth quarter worth $95,000. Cubist Systematic Strategies LLC acquired a new position in Bank of Nova Scotia during the fourth quarter worth $1,592,000. Captrust Financial Advisors raised its holdings in Bank of Nova Scotia by 7.4% during the fourth quarter. Captrust Financial Advisors now owns 23,986 shares of the bank's stock worth $1,289,000 after purchasing an additional 1,657 shares during the last quarter. AXA S.A. raised its holdings in Bank of Nova Scotia by 39.0% during the fourth quarter. AXA S.A. now owns 393,798 shares of the bank's stock worth $21,155,000 after purchasing an additional 110,452 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Bank of Nova Scotia during the fourth quarter worth $319,000. 49.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BNS shares. Bank of America cut Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. CIBC reaffirmed a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Cibc World Mkts cut 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 price target on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $81.00.

Bank of Nova Scotia Price Performance

Shares of NYSE BNS traded up $0.04 during trading on Friday, reaching $51.44. The company had a trading volume of 3,481,776 shares, compared to its average volume of 1,709,426. The Bank of Nova Scotia has a twelve month low of $43.68 and a twelve month high of $57.07. The stock has a market capitalization of $64.08 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The stock has a 50-day moving average price of $48.27 and a two-hundred day moving average price of $51.14. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st were issued a $0.7415 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a dividend yield of 5.77%. Bank of Nova Scotia's dividend payout ratio (DPR) is 83.05%.

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.