First National Trust Co Has $1.54 Million Holdings in The Bank of Nova Scotia (NYSE:BNS)

First National Trust Co lifted its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 208.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,739 shares of the bank’s stock after acquiring an additional 19,421 shares during the quarter. First National Trust Co’s holdings in Bank of Nova Scotia were worth $1,544,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BNS. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Bank of Nova Scotia by 260.1% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank’s stock worth $298,575,000 after acquiring an additional 3,958,580 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Bank of Nova Scotia by 24.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank’s stock worth $640,624,000 after purchasing an additional 2,346,995 shares during the period. Toronto Dominion Bank grew its stake in shares of Bank of Nova Scotia by 9.6% in the third quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank’s stock worth $1,361,752,000 after purchasing an additional 2,195,604 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Bank of Nova Scotia by 17.5% in the third quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank’s stock valued at $241,981,000 after purchasing an additional 660,097 shares during the period. Finally, Geode Capital Management LLC raised its position in Bank of Nova Scotia by 10.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank’s stock worth $310,817,000 after purchasing an additional 524,496 shares during the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

Shares of BNS opened at $47.98 on Friday. The firm has a market cap of $59.77 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a 52-week low of $43.68 and a 52-week high of $57.07. The business’s 50 day moving average price is $50.53 and its two-hundred day moving average price is $52.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.7415 per share. This represents a $2.97 annualized dividend and a yield of 6.18%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio is presently 82.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BNS shares. UBS Group upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. Cibc World Mkts cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Barclays upgraded shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 21st. Finally, 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 research report on Wednesday, February 26th. 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $75.50.

Bank of Nova Scotia 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.