The Bank of Nova Scotia (NYSE:BNS) Shares Purchased by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lifted its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 0.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 705,514 shares of the bank’s stock after acquiring an additional 2,132 shares during the period. State of Tennessee Department of Treasury’s holdings in Bank of Nova Scotia were worth $37,866,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Bank of Nova Scotia in the fourth quarter valued at approximately $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Bank of Nova Scotia during the 4th quarter valued at $31,000. Allworth Financial LP grew its stake in shares of Bank of Nova Scotia by 121.1% in the fourth quarter. Allworth Financial LP now owns 639 shares of the bank’s stock worth $33,000 after purchasing an additional 350 shares in the last quarter. Fortitude Family Office LLC acquired a new position in shares of Bank of Nova Scotia during the fourth quarter valued at $73,000. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of Bank of Nova Scotia during the fourth quarter valued at about $83,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BNS shares. CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Cibc World Mkts downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report 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. Finally, 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 on the stock in a research note on Wednesday, February 26th. One 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. Based on data from MarketBeat.com, Bank of Nova Scotia presently has an average rating of “Hold” and a consensus target price of $81.00.

Bank of Nova Scotia Trading Up 0.0 %

Bank of Nova Scotia stock opened at $47.48 on Tuesday. The Bank of Nova Scotia has a 1 year low of $43.68 and a 1 year high of $57.07. The firm’s 50 day moving average price is $48.21 and its two-hundred day moving average price is $51.48. The firm has a market cap of $59.14 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. 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 declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be given a $0.7415 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.25%. Bank of Nova Scotia’s dividend payout ratio (DPR) 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.