Evergreen Capital Management LLC lifted its holdings in shares of The Bank of Nova Scotia (NYSE:BNS – Free Report) (TSE:BNS) by 10.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,850 shares of the bank’s stock after acquiring an additional 1,054 shares during the period. Evergreen Capital Management LLC’s holdings in Bank of Nova Scotia were worth $583,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of Bank of Nova Scotia during the 4th quarter worth approximately $690,746,000. Geode Capital Management LLC grew its holdings in shares of Bank of Nova Scotia by 31.8% in the 4th quarter. Geode Capital Management LLC now owns 7,433,171 shares of the bank’s stock worth $406,103,000 after purchasing an additional 1,792,700 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Bank of Nova Scotia by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank’s stock worth $2,758,150,000 after purchasing an additional 969,488 shares in the last quarter. FIL Ltd boosted its position in Bank of Nova Scotia by 37.8% in the fourth quarter. FIL Ltd now owns 2,582,696 shares of the bank’s stock valued at $138,689,000 after buying an additional 708,999 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its stake in Bank of Nova Scotia by 370.0% during the fourth quarter. Hillsdale Investment Management Inc. now owns 883,511 shares of the bank’s stock worth $47,391,000 after buying an additional 695,519 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts recently commented on BNS shares. Bank of America lowered Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research report on Monday, March 31st. Royal Bank of Canada cut their price target on Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Finally, Cibc World Mkts lowered shares of 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, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $81.00.
Bank of Nova Scotia Stock Performance
Shares of Bank of Nova Scotia stock opened at $47.46 on Friday. The Bank of Nova Scotia has a 52 week low of $43.68 and a 52 week high of $57.07. 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 stock has a market capitalization of $59.11 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.16 and a beta of 1.02. The firm has a fifty day moving average of $48.28 and a two-hundred day moving average of $51.54.
Bank of Nova Scotia Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 annualized dividend and a dividend yield of 6.25%. Bank of Nova Scotia’s payout ratio is currently 83.05%.
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.
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