MGO One Seven LLC Acquires Shares of 4,737 The Bank of Nova Scotia (NYSE:BNS)

MGO One Seven LLC purchased a new position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,737 shares of the bank’s stock, valued at approximately $254,000.

A number of other large investors have also bought and sold shares of the company. Norges Bank purchased a new stake in Bank of Nova Scotia during the 4th quarter worth about $690,746,000. Geode Capital Management LLC lifted its position in Bank of Nova Scotia by 31.8% in the 4th quarter. Geode Capital Management LLC now owns 7,433,171 shares of the bank’s stock worth $406,103,000 after buying an additional 1,792,700 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Bank of Nova Scotia by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank’s stock valued at $2,758,150,000 after purchasing an additional 969,488 shares in the last quarter. FIL Ltd grew its stake in shares of Bank of Nova Scotia by 37.8% during the fourth quarter. FIL Ltd now owns 2,582,696 shares of the bank’s stock valued at $138,689,000 after buying an additional 708,999 shares during the last quarter. Finally, Hillsdale Investment Management Inc. grew its position in Bank of Nova Scotia by 370.0% during the 4th quarter. Hillsdale Investment Management Inc. now owns 883,511 shares of the bank’s stock worth $47,391,000 after acquiring an additional 695,519 shares during the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BNS shares. CIBC restated 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 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. Cibc World Mkts lowered shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, Bank of America cut Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Bank of Nova Scotia presently has a consensus rating of “Hold” and an average price target of $81.00.

Bank of Nova Scotia Stock Up 0.5 %

NYSE BNS opened at $49.48 on Wednesday. The stock’s 50-day moving average price is $47.93 and its 200-day moving average price is $51.34. The company has a market capitalization of $61.63 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. The Bank of Nova Scotia has a 52 week low of $43.68 and a 52 week high of $57.07. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st were paid a $0.7415 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a dividend yield of 5.99%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 83.05%.

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.