The Bank of Nova Scotia (NYSE:BNS) Shares Acquired by FIL Ltd

FIL Ltd increased its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 37.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,582,696 shares of the bank’s stock after acquiring an additional 708,999 shares during the period. FIL Ltd’s holdings in Bank of Nova Scotia were worth $138,689,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BNS. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Bank of Nova Scotia in the fourth quarter valued at approximately $25,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Bank of Nova Scotia in the 4th quarter valued at $31,000. Allworth Financial LP increased its holdings in Bank of Nova Scotia by 121.1% in the 4th quarter. Allworth Financial LP now owns 639 shares of the bank’s stock worth $33,000 after acquiring an additional 350 shares in the last quarter. BNP Paribas Financial Markets raised 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 period. Finally, Fortitude Family Office LLC purchased a new position in Bank of Nova Scotia during the fourth quarter valued at $73,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

Shares of Bank of Nova Scotia stock opened at $44.64 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The business’s 50 day moving average price is $49.01 and its 200 day moving average price is $51.98. The company has a market cap of $55.60 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 1.16 and a beta of 1.02. The Bank of Nova Scotia has a one year low of $43.68 and a one year high of $57.07.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be issued a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.65%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio is currently 82.77%.

Analysts Set New Price Targets

BNS has been the subject of a number of research reports. Bank of America cut shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research note on Monday, March 31st. Royal Bank of Canada reduced their target price 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. CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Finally, Cibc World Mkts downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $81.00.

About Bank of Nova Scotia

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.