The Bank of Nova Scotia (NYSE:BNS) Shares Acquired by Principal Securities Inc.

Principal Securities Inc. increased its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 259.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,046 shares of the bank’s stock after purchasing an additional 2,199 shares during the period. Principal Securities Inc.’s holdings in Bank of Nova Scotia were worth $164,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its stake in shares of Bank of Nova Scotia by 9.6% during the 3rd quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank’s stock valued at $1,361,752,000 after acquiring an additional 2,195,604 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in 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 last quarter. CIBC Asset Management Inc raised its stake in Bank of Nova Scotia by 2.4% during the third quarter. CIBC Asset Management Inc now owns 10,074,518 shares of the bank’s stock worth $550,729,000 after purchasing an additional 240,803 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Bank of Nova Scotia by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank’s stock valued at $310,817,000 after purchasing an additional 524,496 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of 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 valued at $298,575,000 after buying an additional 3,958,580 shares during the period. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Trading Up 0.2 %

BNS opened at $50.60 on Tuesday. The firm’s 50 day moving average is $51.95 and its 200-day moving average is $52.36. The Bank of Nova Scotia has a 52-week low of $43.67 and a 52-week high of $57.07. 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 capitalization of $63.02 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.16 and a beta of 1.07.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th were issued a $0.7535 dividend. The ex-dividend date was Tuesday, January 7th. This represents a $3.01 dividend on an annualized basis and a yield of 5.96%. Bank of Nova Scotia’s dividend payout ratio is currently 68.29%.

Wall Street Analyst Weigh In

BNS has been the topic of several research reports. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Barclays upgraded shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. CIBC reiterated a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Finally, Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” 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 data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $72.00.

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.