Private Advisor Group LLC Grows Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

Private Advisor Group LLC grew its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,248 shares of the bank’s stock after purchasing an additional 211 shares during the period. Private Advisor Group LLC’s holdings in Bank of Nova Scotia were worth $336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP boosted its holdings in Bank of Nova Scotia by 121.1% in the 4th quarter. Allworth Financial LP now owns 639 shares of the bank’s stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Bank of Nova Scotia by 1,588.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock worth $47,000 after purchasing an additional 810 shares during the period. Fortitude Family Office LLC purchased a new position in shares of Bank of Nova Scotia during the fourth quarter worth $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 grew its holdings in shares of Bank of Nova Scotia by 11.9% in the third 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 in the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. UBS Group raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Monday, November 18th. Cibc World Mkts cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Barclays raised Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. One 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, the company presently has a consensus rating of “Hold” and an average target price of $75.50.

Bank of Nova Scotia Price Performance

Shares of NYSE:BNS opened at $48.55 on Wednesday. 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 business’s fifty day moving average price is $51.45 and its two-hundred day moving average price is $52.51. The stock has a market cap 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 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 disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. This represents a $2.97 dividend on an annualized basis and a yield of 6.11%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio is presently 82.20%.

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.