Andra AP fonden Invests $489,000 in The Bank of Nova Scotia (NYSE:BNS)

Andra AP fonden bought a new position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,100 shares of the bank’s stock, valued at approximately $489,000.

A number of other large investors also recently made changes to their positions in BNS. Allworth Financial LP grew its position in Bank of Nova Scotia by 121.1% during the fourth quarter. Allworth Financial LP now owns 639 shares of the bank’s stock worth $33,000 after buying an additional 350 shares in the last quarter. BNP Paribas Financial Markets grew its position in Bank of Nova Scotia by 1,588.2% during the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock worth $47,000 after buying an additional 810 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in Bank of Nova Scotia during the fourth quarter worth approximately $73,000. Wilmington Savings Fund Society FSB acquired a new stake in Bank of Nova Scotia during the third quarter worth approximately $111,000. Finally, Farther Finance Advisors LLC grew its position in Bank of Nova Scotia by 11.9% during the third quarter. Farther Finance Advisors LLC now owns 2,713 shares of the bank’s stock worth $148,000 after buying an additional 288 shares in the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Up 0.4 %

Shares of NYSE:BNS opened at $48.33 on Monday. The business has a fifty day simple moving average of $51.13 and a 200 day simple moving average of $52.52. The Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month high of $57.07. 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 firm has a market cap of $60.19 billion, a P/E ratio of 11.19, a P/E/G ratio of 1.16 and a beta of 1.11.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be given a $0.7415 dividend. This represents a $2.97 annualized dividend and a dividend yield of 6.14%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 82.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada reduced their target price on Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Barclays raised Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Bank of Nova Scotia has a consensus rating of “Hold” and an average price target of $75.50.

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.