609,780 Shares in The Bank of Nova Scotia (NYSE:BNS) Purchased by Guardian Partners Inc.

Guardian Partners Inc. purchased a new position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 609,780 shares of the bank’s stock, valued at approximately $31,515,000. Bank of Nova Scotia accounts for approximately 3.2% of Guardian Partners Inc.’s investment portfolio, making the stock its 5th largest position.

Other hedge funds have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Bank of Nova Scotia during the fourth quarter worth approximately $31,000. Allworth Financial LP lifted its position in Bank of Nova Scotia by 121.1% during the fourth quarter. Allworth Financial LP now owns 639 shares of the bank’s stock worth $33,000 after acquiring an additional 350 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Bank of Nova Scotia by 1,588.2% during the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock worth $47,000 after acquiring an additional 810 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in Bank of Nova Scotia during the fourth quarter worth approximately $73,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Bank of Nova Scotia in the third quarter valued at approximately $111,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BNS shares. CIBC reiterated a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Royal Bank of Canada dropped their price target on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Finally, Cibc World Mkts downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $81.00.

Bank of Nova Scotia Stock Down 0.2 %

Shares of BNS opened at $48.01 on Friday. The Bank of Nova Scotia has a one year low of $43.68 and a one year high of $57.07. The company has a market cap of $59.80 billion, a P/E ratio of 11.11, a P/E/G ratio of 1.16 and a beta of 1.11. 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 firm has a 50 day simple moving average of $50.15 and a two-hundred day simple moving average of $52.42.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be paid 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 6.18%. Bank of Nova Scotia’s payout ratio is presently 82.77%.

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.