Allworth Financial LP Purchases 350 Shares of The Bank of Nova Scotia (NYSE:BNS)

Allworth Financial LP increased its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 121.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 639 shares of the bank’s stock after purchasing an additional 350 shares during the quarter. Allworth Financial LP’s holdings in Bank of Nova Scotia were worth $33,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of BNS. Toronto Dominion Bank increased its stake in shares of Bank of Nova Scotia by 9.6% in the third quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank’s stock valued at $1,361,752,000 after buying an additional 2,195,604 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Bank of Nova Scotia by 24.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank’s stock valued at $640,624,000 after buying an additional 2,346,995 shares during the period. CIBC Asset Management Inc increased its position in Bank of Nova Scotia by 2.4% during the 3rd quarter. CIBC Asset Management Inc now owns 10,074,518 shares of the bank’s stock valued at $550,729,000 after purchasing an additional 240,803 shares during the period. Geode Capital Management LLC raised its holdings in Bank of Nova Scotia by 10.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank’s stock worth $310,817,000 after purchasing an additional 524,496 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Bank of Nova Scotia by 260.1% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank’s stock worth $298,575,000 after purchasing an additional 3,958,580 shares during the period. Institutional investors and hedge funds own 49.13% of the company’s stock.

Analyst Ratings Changes

BNS has been the subject of several research analyst reports. Barclays raised Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 21st. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada lifted their target price on Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 4th. CIBC reiterated a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Finally, UBS Group upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Hold” and an average target price of $72.00.

Bank of Nova Scotia Trading Down 1.5 %

Shares of BNS stock opened at $49.88 on Wednesday. The stock has a market capitalization of $62.12 billion, a PE ratio of 11.55, a P/E/G ratio of 1.16 and a beta of 1.07. The Bank of Nova Scotia has a 1-year low of $43.67 and a 1-year high of $57.07. The business has a 50-day moving average of $51.85 and a 200 day moving average of $52.38. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th were given a dividend of $0.7535 per share. This represents a $3.01 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date was Tuesday, January 7th. Bank of Nova Scotia’s payout ratio is 68.06%.

About Bank of Nova Scotia

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.