The Bank of Nova Scotia (NYSE:BNS) Stock Position Raised by US Bancorp DE

US Bancorp DE boosted its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 17.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 99,207 shares of the bank’s stock after purchasing 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.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its position in shares of 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 buying an additional 350 shares during the period. BNP Paribas Financial Markets lifted its stake in Bank of Nova Scotia by 1,588.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock worth $47,000 after acquiring an additional 810 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in Bank of Nova Scotia during the 4th quarter worth about $73,000. Wilmington Savings Fund Society FSB purchased a new position in Bank of Nova Scotia during the 3rd quarter valued at about $111,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Bank of Nova Scotia by 11.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,713 shares of the bank’s stock valued at $148,000 after purchasing an additional 288 shares during the period. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Down 1.6 %

BNS stock opened at $48.55 on Wednesday. The firm has a market cap of $60.47 billion, a PE ratio of 11.24, a PEG ratio of 1.16 and a beta of 1.07. The Bank of Nova Scotia has a 1 year low of $43.67 and a 1 year high of $57.07. The company has a fifty day simple moving average of $51.45 and a 200 day simple moving average of $52.51. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given a $0.7415 dividend. The ex-dividend date 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 is currently 82.20%.

Analyst Ratings Changes

Several analysts recently commented on the stock. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. UBS Group raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Monday, November 18th. Cibc World Mkts downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Barclays upgraded Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. Finally, Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Hold” and a consensus target price of $75.50.

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.