4,078,801 Shares in Bank of Nova Scotia (The) $BNS Acquired by Wellington Management Group LLP

Wellington Management Group LLP acquired a new stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,078,801 shares of the bank’s stock, valued at approximately $354,379,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swiss RE Ltd. purchased a new stake in shares of Bank of Nova Scotia during the fourth quarter worth $30,000. Maseco LLP purchased a new stake in Bank of Nova Scotia during the 1st quarter valued at about $30,000. CoreCap Advisors LLC raised its holdings in Bank of Nova Scotia by 1,366.7% in the 2nd quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock valued at $38,000 after acquiring an additional 410 shares during the last quarter. Addison Advisors LLC purchased a new position in Bank of Nova Scotia in the 2nd quarter worth approximately $39,000. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of Bank of Nova Scotia during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Down 0.0%

Shares of NYSE BNS opened at $92.35 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.98. The business’s 50 day moving average is $88.14 and its two-hundred day moving average is $80.16. Bank of Nova Scotia has a 52-week low of $61.69 and a 52-week high of $94.96. The firm has a market cap of $112.56 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 1.05 and a beta of 1.11.

Bank of Nova Scotia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Tuesday, October 6th will be paid a dividend of $1.14 per share. The ex-dividend date is Tuesday, October 6th. This represents a $4.56 dividend on an annualized basis and a yield of 4.9%. Bank of Nova Scotia’s dividend payout ratio is 58.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BNS shares. TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, August 25th. Royal Bank Of Canada raised their target price on Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 28th. Keefe, Bruyette & Woods started coverage on Bank of Nova Scotia in a report on Friday, August 21st. They set an “outperform” rating on the stock. Weiss Ratings cut shares of Bank of Nova Scotia from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, August 18th. Finally, National Bank Financial raised shares of Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a report on Wednesday, August 26th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.00.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.