The Bank of Nova Scotia (NYSE:BNS) Shares Acquired by Addison Advisors LLC

Addison Advisors LLC raised its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,685 shares of the bank’s stock after acquiring an additional 328 shares during the period. Addison Advisors LLC’s holdings in Bank of Nova Scotia were worth $198,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP lifted its stake in Bank of Nova Scotia by 121.1% during the 4th quarter. Allworth Financial LP now owns 639 shares of the bank’s stock valued at $33,000 after acquiring an additional 350 shares during the period. BNP Paribas Financial Markets lifted its stake in Bank of Nova Scotia by 1,588.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock valued at $47,000 after acquiring an additional 810 shares during the period. Fortitude Family Office LLC acquired a new stake in Bank of Nova Scotia during the 4th quarter valued at approximately $73,000. Blue Trust Inc. lifted its stake in Bank of Nova Scotia by 171.6% during the 3rd quarter. Blue Trust Inc. now owns 1,578 shares of the bank’s stock valued at $86,000 after acquiring an additional 997 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Bank of Nova Scotia during the 3rd quarter valued at approximately $111,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Performance

BNS opened at $49.88 on Wednesday. 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 has a market cap of $62.12 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.16 and a beta of 1.07. The Bank of Nova Scotia has a 52-week low of $43.67 and a 52-week high of $57.07. The firm’s fifty day simple moving average is $51.85 and its two-hundred day simple moving average is $52.38.

Bank of Nova Scotia Cuts Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have commented on BNS. TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Cibc World Mkts downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Royal Bank of Canada increased their price target on shares of 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. Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. One equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.00.

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.