State Street Corp Grows Holdings in The Bank of Nova Scotia (NYSE:BNS)

State Street Corp lifted its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,030 shares of the bank’s stock after acquiring an additional 1,690 shares during the quarter. State Street Corp’s holdings in Bank of Nova Scotia were worth $6,758,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of BNS. The Manufacturers Life Insurance Company increased its holdings 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 worth $241,981,000 after acquiring an additional 660,097 shares in the last quarter. Rathbones Group PLC raised its position in shares of Bank of Nova Scotia by 11.8% during the 2nd quarter. Rathbones Group PLC now owns 136,337 shares of the bank’s stock worth $6,235,000 after purchasing an additional 14,379 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Bank of Nova Scotia by 2,455.8% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,521,906 shares of the bank’s stock worth $69,627,000 after purchasing an additional 1,462,360 shares during the last quarter. Intact Investment Management Inc. lifted its stake in Bank of Nova Scotia by 48.3% in the 3rd quarter. Intact Investment Management Inc. now owns 1,563,594 shares of the bank’s stock valued at $85,201,000 after buying an additional 509,120 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Bank of Nova Scotia by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,744,062 shares of the bank’s stock worth $204,214,000 after buying an additional 150,247 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BNS shares. Cibc World Mkts raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, UBS Group upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Bank of Nova Scotia Stock Up 0.1 %

NYSE BNS opened at $53.76 on Friday. The business’s fifty day simple moving average is $54.35 and its 200-day simple moving average is $50.71. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The firm has a market cap of $66.94 billion, a PE ratio of 12.44, a P/E/G ratio of 1.26 and a beta of 1.07. The Bank of Nova Scotia has a 52 week low of $43.67 and a 52 week high of $57.07.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.7535 per share. This represents a $3.01 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date is Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 72.45%.

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.