Five Oceans Advisors Grows Stake in The Bank of Nova Scotia (NYSE:BNS)

Five Oceans Advisors increased its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 13.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,330 shares of the bank’s stock after buying an additional 525 shares during the period. Five Oceans Advisors’ holdings in Bank of Nova Scotia were worth $233,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. bought a new position in Bank of Nova Scotia during the 2nd quarter valued at about $648,000. Squarepoint Ops LLC purchased a new stake in shares of Bank of Nova Scotia in the second quarter worth $703,000. AQR Capital Management LLC bought a new stake in Bank of Nova Scotia during the second quarter valued at about $230,000. Eldred Rock Partners LLC lifted its holdings in Bank of Nova Scotia by 119.4% in the 3rd quarter. Eldred Rock Partners LLC now owns 155,180 shares of the bank’s stock worth $8,456,000 after purchasing an additional 84,441 shares in the last quarter. Finally, Value Partners Investments Inc. boosted its holdings in shares of Bank of Nova Scotia by 0.3% during the 3rd quarter. Value Partners Investments Inc. now owns 1,414,842 shares of the bank’s stock valued at $77,095,000 after purchasing an additional 4,781 shares during the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Trading Down 1.2 %

BNS opened at $51.24 on Friday. The Bank of Nova Scotia has a one year low of $43.67 and a one year high of $57.07. The business’s 50 day moving average price is $53.60 and its 200 day moving average price is $51.76. The stock has a market capitalization of $63.81 billion, a PE ratio of 11.86, a P/E/G ratio of 1.17 and a beta of 1.08. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders 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 dividend yield of 5.88%. The ex-dividend date of this dividend was Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio is currently 68.29%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Barclays upgraded shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Royal Bank of Canada raised their target price on Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.00.

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.