Vanguard Group Inc. Grows Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

Vanguard Group Inc. lifted its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 51,363,146 shares of the bank’s stock after buying an additional 969,488 shares during the period. Vanguard Group Inc.’s holdings in Bank of Nova Scotia were worth $2,758,150,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Magnus Financial Group LLC grew its holdings in Bank of Nova Scotia by 4.1% in the fourth quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank’s stock worth $274,000 after purchasing an additional 200 shares during the last quarter. Private Advisor Group LLC increased its position in Bank of Nova Scotia by 3.5% during the 4th quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock valued at $336,000 after buying an additional 211 shares in the last quarter. Moran Wealth Management LLC raised its stake in Bank of Nova Scotia by 6.5% in the fourth quarter. Moran Wealth Management LLC now owns 3,925 shares of the bank’s stock valued at $211,000 after buying an additional 240 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in Bank of Nova Scotia by 10.2% in the fourth quarter. Lindbrook Capital LLC now owns 2,860 shares of the bank’s stock worth $154,000 after acquiring an additional 264 shares in the last quarter. Finally, Merit Financial Group LLC grew its stake in shares of Bank of Nova Scotia by 5.8% during the fourth quarter. Merit Financial Group LLC now owns 4,905 shares of the bank’s stock worth $264,000 after acquiring an additional 271 shares during the last quarter. Institutional investors own 49.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on BNS shares. Royal Bank of Canada decreased their price objective on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Cibc World Mkts cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $81.00.

Bank of Nova Scotia Stock Up 0.9 %

Shares of BNS stock opened at $48.76 on Wednesday. The Bank of Nova Scotia has a twelve month low of $43.68 and a twelve month high of $57.07. The stock has a market cap of $60.73 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.16 and a beta of 1.11. The stock has a 50 day moving average of $50.05 and a 200 day moving average of $52.40. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia Cuts Dividend

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

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.