The Manufacturers Life Insurance Company boosted its holdings in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,509,995 shares of the bank's stock after buying an additional 71,866 shares during the period. The Manufacturers Life Insurance Company owned 0.36% of Bank of Nova Scotia worth $242,505,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BNS. Magnus Financial Group LLC grew 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 purchasing an additional 200 shares during the period. Private Advisor Group LLC grew its position in Bank of Nova Scotia by 3.5% during the fourth quarter. Private Advisor Group LLC now owns 6,248 shares of the bank's stock valued at $336,000 after acquiring an additional 211 shares during the period. Moran Wealth Management LLC increased its stake in 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 acquiring an additional 240 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Bank of Nova Scotia by 4.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,399 shares of the bank's stock worth $290,000 after purchasing an additional 248 shares during the period. Finally, Lindbrook Capital LLC lifted its stake in shares of Bank of Nova Scotia by 10.2% in the 4th quarter. Lindbrook Capital LLC now owns 2,860 shares of the bank's stock valued at $154,000 after purchasing an additional 264 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms recently commented on BNS. CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Cibc World Mkts downgraded shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Bank of America cut shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. Finally, Royal Bank of Canada cut their price objective 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 investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of "Hold" and an average price target of $81.00.
Check Out Our Latest Stock Report on Bank of Nova Scotia
Bank of Nova Scotia Stock Down 0.2 %
BNS stock traded down $0.09 during trading on Thursday, reaching $49.90. The stock had a trading volume of 1,691,929 shares, compared to its average volume of 1,692,289. 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 firm has a fifty day moving average price of $47.92 and a 200 day moving average price of $51.33. The company has a market capitalization of $62.15 billion, a P/E ratio of 11.55, a PEG ratio of 1.16 and a beta of 1.02. The Bank of Nova Scotia has a 1-year low of $43.68 and a 1-year high of $57.07.
Bank of Nova Scotia Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.7415 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 5.94%. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 83.05%.
About Bank of Nova Scotia
(
Free Report)
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.
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