The Bank of Nova Scotia (NYSE:BNS) Shares Purchased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. grew its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 16.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,849,592 shares of the bank’s stock after acquiring an additional 537,876 shares during the quarter. Bank of Nova Scotia comprises approximately 1.7% of TD Waterhouse Canada Inc.’s holdings, making the stock its 12th largest position. TD Waterhouse Canada Inc.’s holdings in Bank of Nova Scotia were worth $206,325,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Magnus Financial Group LLC lifted its position 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 period. Private Advisor Group LLC grew its holdings in Bank of Nova Scotia by 3.5% during the fourth quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock worth $336,000 after acquiring an additional 211 shares during the period. Moran Wealth Management LLC raised 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 acquiring an additional 240 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in Bank of Nova Scotia by 10.2% in the 4th quarter. Lindbrook Capital LLC now owns 2,860 shares of the bank’s stock valued at $154,000 after acquiring an additional 264 shares during the last quarter. Finally, Merit Financial Group LLC boosted its position in shares of Bank of Nova Scotia by 5.8% during the 4th quarter. Merit Financial Group LLC now owns 4,905 shares of the bank’s stock valued at $264,000 after purchasing an additional 271 shares in the last quarter. Institutional investors own 49.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on BNS. CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Bank of America lowered Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research note on Monday, March 31st. Cibc World Mkts lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada decreased their price target on 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Hold” and a consensus target price of $81.00.

Bank of Nova Scotia Price Performance

Shares of NYSE:BNS opened at $47.46 on Monday. The company’s fifty day moving average is $48.28 and its two-hundred day moving average is $51.52. The company has a market cap of $59.11 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. The Bank of Nova Scotia has a 12-month low of $43.68 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.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. This represents a $2.97 annualized dividend and a yield of 6.25%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia’s payout ratio is 83.05%.

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.