Vanguard Group Inc. Grows Position in The Bank of Nova Scotia (NYSE:BNS)

Vanguard Group Inc. boosted its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,363,146 shares of the bank’s stock after purchasing an additional 969,488 shares during the period. Vanguard Group Inc. owned about 4.12% of Bank of Nova Scotia worth $2,758,150,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Bank of Nova Scotia in the fourth quarter worth approximately $31,000. Allworth Financial LP increased its stake in Bank of Nova Scotia by 121.1% in the fourth quarter. Allworth Financial LP now owns 639 shares of the bank’s stock worth $33,000 after purchasing an additional 350 shares during the period. BNP Paribas Financial Markets lifted its position in shares of 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 purchasing an additional 810 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in shares of Bank of Nova Scotia during the fourth quarter valued at $73,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Bank of Nova Scotia in the third quarter worth about $111,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada decreased their price objective on shares of 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 World Mkts cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $81.00.

Bank of Nova Scotia Price Performance

NYSE BNS opened at $48.76 on Wednesday. The company has a market cap of $60.73 billion, a PE ratio of 11.29, a P/E/G ratio of 1.16 and a beta of 1.11. The firm’s 50 day moving average price is $50.05 and its 200-day moving average price is $52.40. 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 Bank of Nova Scotia has a 52-week low of $43.68 and a 52-week high of $57.07.

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 given a dividend of $0.7415 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 annualized dividend and a yield of 6.08%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 82.77%.

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.