The Bank of Nova Scotia (NYSE:BNS) Shares Bought by US Bancorp DE

US Bancorp DE lifted its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 17.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 99,207 shares of the bank’s stock after buying an additional 14,926 shares during the period. US Bancorp DE’s holdings in Bank of Nova Scotia were worth $5,329,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BNS. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position 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 period. Healthcare of Ontario Pension Plan Trust Fund raised its stake 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 valued at $640,624,000 after purchasing an additional 2,346,995 shares in the last quarter. Toronto Dominion Bank lifted its holdings in 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 period. The Manufacturers Life Insurance Company grew its position in Bank of Nova Scotia by 17.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank’s stock valued at $241,981,000 after buying an additional 660,097 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake 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 valued at $310,817,000 after buying an additional 524,496 shares during the period. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Price Performance

Shares of NYSE:BNS opened at $48.55 on Wednesday. The company has a market capitalization of $60.47 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 1.16 and a beta of 1.07. 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 stock has a fifty day moving average of $51.45 and a 200-day moving average of $52.51. The Bank of Nova Scotia has a one year low of $43.67 and a one year high of $57.07.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be given a $0.7415 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.11%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 82.20%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BNS shares. Royal Bank of Canada reduced their price target 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 note on Wednesday, February 26th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Barclays upgraded Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 21st. UBS Group raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.