JPMorgan Chase & Co. Has $328.22 Million Holdings in The Bank of Nova Scotia (NYSE:BNS)

JPMorgan Chase & Co. lessened its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,023,560 shares of the bank’s stock after selling 96,418 shares during the quarter. JPMorgan Chase & Co. owned 0.48% of Bank of Nova Scotia worth $328,224,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Bank of Nova Scotia by 17.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank’s stock worth $241,981,000 after buying an additional 660,097 shares during the last quarter. Rathbones Group PLC boosted its position in Bank of Nova Scotia by 11.8% during the second quarter. Rathbones Group PLC now owns 136,337 shares of the bank’s stock valued at $6,235,000 after purchasing an additional 14,379 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Bank of Nova Scotia by 2,455.8% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,521,906 shares of the bank’s stock valued at $69,627,000 after purchasing an additional 1,462,360 shares during the last quarter. Intact Investment Management Inc. raised its stake in shares of Bank of Nova Scotia by 48.3% during the 3rd quarter. Intact Investment Management Inc. now owns 1,563,594 shares of the bank’s stock worth $85,201,000 after purchasing an additional 509,120 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 valued at $204,214,000 after buying an additional 150,247 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on BNS shares. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Barclays upgraded shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. 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, Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th. One equities research 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’s stock. According to data from MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Bank of Nova Scotia Stock Up 0.1 %

Shares of BNS opened at $53.76 on Monday. The firm has a market cap of $66.94 billion, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 1.26 and a beta of 1.07. 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 Bank of Nova Scotia has a 52 week low of $43.67 and a 52 week high of $57.07. The firm’s 50-day simple moving average is $54.35 and its 200 day simple moving average is $50.77.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th will be given a $0.7535 dividend. This represents a $3.01 annualized dividend and a dividend yield of 5.61%. The ex-dividend date of this dividend is Tuesday, January 7th. Bank of Nova Scotia’s payout ratio is 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.