The Bank of Nova Scotia (NYSE:BNS) Position Boosted by Deutsche Bank AG

Deutsche Bank AG grew its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 8.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,718,907 shares of the bank’s stock after buying an additional 136,275 shares during the quarter. Deutsche Bank AG owned about 0.14% of Bank of Nova Scotia worth $92,340,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new stake in Bank of Nova Scotia during the fourth quarter valued at approximately $25,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Bank of Nova Scotia during the fourth quarter valued at $31,000. Allworth Financial LP grew its stake in shares of Bank of Nova Scotia by 121.1% in the 4th quarter. Allworth Financial LP now owns 639 shares of the bank’s stock valued at $33,000 after buying an additional 350 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in Bank of Nova Scotia in the fourth quarter worth approximately $83,000. Finally, Dunhill Financial LLC bought a new stake in Bank of Nova Scotia in the fourth quarter worth $95,000. Institutional investors own 49.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Cibc World Mkts downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Royal Bank of Canada cut 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 research note on Wednesday, February 26th. CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Finally, Bank of America lowered Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research note on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $81.00.

Bank of Nova Scotia Trading Up 0.2%

Shares of NYSE BNS opened at $50.20 on Monday. 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 company has a market cap of $62.53 billion, a PE ratio of 11.62, a P/E/G ratio of 1.16 and a beta of 1.11. The company has a 50-day moving average of $47.98 and a two-hundred day moving average of $51.17. 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 company also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st were given a $0.7415 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 5.91%. Bank of Nova Scotia’s payout ratio is 83.05%.

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.