Bessemer Group Inc. Acquires 1,374 Shares of The Bank of Nova Scotia (NYSE:BNS)

Bessemer Group Inc. increased its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 3.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 42,088 shares of the bank’s stock after buying an additional 1,374 shares during the period. Bessemer Group Inc.’s holdings in Bank of Nova Scotia were worth $2,257,000 at the end of the most recent reporting period.

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

Bank of Nova Scotia Price Performance

Shares of BNS opened at $46.06 on Monday. The stock has a 50 day simple moving average of $48.65 and a 200 day simple moving average of $51.76. 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 firm has a market capitalization of $57.37 billion, a PE ratio of 10.66, a P/E/G ratio of 1.16 and a beta of 1.02.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. This represents a $2.97 annualized dividend and a dividend yield of 6.44%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 82.77%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Royal Bank of Canada dropped their price objective 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 World Mkts lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, Bank of America lowered Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $81.00.

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.