The Bank of Nova Scotia (NYSE:BNS) Stock Position Raised by Rhumbline Advisers

Rhumbline Advisers grew its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,589 shares of the bank’s stock after buying an additional 392 shares during the quarter. Rhumbline Advisers’ holdings in Bank of Nova Scotia were worth $569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. BNP Paribas Financial Markets lifted its position in shares of Bank of Nova Scotia by 1,588.2% in the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock worth $47,000 after buying an additional 810 shares during the last quarter. Fortitude Family Office LLC bought a new stake in Bank of Nova Scotia during the fourth quarter worth approximately $73,000. Wilmington Savings Fund Society FSB bought a new stake in Bank of Nova Scotia during the third quarter worth approximately $111,000. Farther Finance Advisors LLC grew its holdings in Bank of Nova Scotia by 11.9% during 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 during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Bank of Nova Scotia by 98.6% in the fourth quarter. Blue Trust Inc. now owns 3,134 shares of the bank’s stock valued at $171,000 after purchasing an additional 1,556 shares during the period. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Up 0.4 %

Shares of NYSE BNS opened at $48.33 on Friday. The stock has a market cap of $60.19 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a twelve month low of $43.67 and a twelve month 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 company’s fifty day moving average is $51.13 and its 200-day moving average is $52.45.

Bank of Nova Scotia Cuts Dividend

The firm 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 $0.7415 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 annualized dividend and a dividend yield of 6.14%. Bank of Nova Scotia’s dividend payout ratio is presently 82.77%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada cut their price objective on Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. UBS Group raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Monday, November 18th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, 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. 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’s stock. According to MarketBeat.com, Bank of Nova Scotia presently has an average rating of “Hold” and an average price target of $75.50.

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.