Abel Hall LLC Buys Shares of 4,000 The Bank of Nova Scotia (NYSE:BNS)

Abel Hall LLC purchased a new stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,000 shares of the bank’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mather Group LLC. increased its holdings in Bank of Nova Scotia by 1,388.9% during the 2nd quarter. Mather Group LLC. now owns 536 shares of the bank’s stock valued at $25,000 after acquiring an additional 500 shares in the last quarter. Blue Trust Inc. grew its position in shares of Bank of Nova Scotia by 3,127.8% in the second quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock valued at $27,000 after purchasing an additional 563 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Bank of Nova Scotia by 1,588.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock worth $47,000 after purchasing an additional 810 shares in the last quarter. City State Bank acquired a new position in shares of Bank of Nova Scotia during the 3rd quarter worth approximately $57,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Bank of Nova Scotia during the 2nd quarter worth approximately $104,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on BNS. Barclays raised Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 21st. Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. UBS Group upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Monday, November 18th. Finally, TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Bank of Nova Scotia Trading Down 0.0 %

Shares of BNS stock opened at $55.77 on Monday. The firm’s 50-day simple moving average is $53.93 and its 200-day simple moving average is $50.00. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The Bank of Nova Scotia has a 1-year low of $43.67 and a 1-year high of $57.07. The firm has a market cap of $69.40 billion, a P/E ratio of 12.91, a PEG ratio of 1.25 and a beta of 1.07.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th will be issued a $0.7535 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.40%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 72.45%.

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.