Mufg Securities Canada LTD. Purchases 388,961 Shares of The Bank of Nova Scotia (NYSE:BNS)

Mufg Securities Canada LTD. increased its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 25.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,900,294 shares of the bank’s stock after buying an additional 388,961 shares during the quarter. Bank of Nova Scotia accounts for approximately 3.7% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 10th largest position. Mufg Securities Canada LTD.’s holdings in Bank of Nova Scotia were worth $101,977,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Bank of Nova Scotia by 3.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 63,849 shares of the bank’s stock worth $3,479,000 after purchasing an additional 2,090 shares during the period. Citigroup Inc. raised its position in Bank of Nova Scotia by 12.3% during the 3rd quarter. Citigroup Inc. now owns 580,664 shares of the bank’s stock worth $31,673,000 after purchasing an additional 63,528 shares during the last quarter. Nwam LLC acquired a new position in Bank of Nova Scotia during the 3rd quarter worth about $261,000. Brown Brothers Harriman & Co. grew its position in shares of Bank of Nova Scotia by 700.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,568 shares of the bank’s stock valued at $194,000 after buying an additional 3,122 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Bank of Nova Scotia by 17.5% in the third quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank’s stock valued at $241,981,000 after buying an additional 660,097 shares during the period. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock opened at $48.76 on Wednesday. The stock’s 50 day moving average price is $50.05 and its two-hundred day moving average price is $52.40. The stock has a market capitalization of $60.73 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 1.16 and a beta of 1.11. 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 $43.68 and a 52-week high of $57.07.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia’s payout ratio is 82.77%.

Wall Street Analysts Forecast Growth

BNS has been the topic of several analyst reports. CIBC reiterated a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Royal Bank of Canada reduced their price objective on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Finally, Cibc World Mkts downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Hold” and an average target price of $81.00.

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.