AE Wealth Management LLC Buys 688 Shares of The Bank of Nova Scotia (NYSE:BNS)

AE Wealth Management LLC grew its stake in shares of The Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) by 11.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,609 shares of the bank’s stock after buying an additional 688 shares during the period. AE Wealth Management LLC’s holdings in Bank of Nova Scotia were worth $314,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. DORCHESTER WEALTH MANAGEMENT Co increased its position in shares of Bank of Nova Scotia by 7.4% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 237,583 shares of the bank’s stock valued at $11,287,000 after buying an additional 16,433 shares during the period. Ronald Blue Trust Inc. purchased a new position in shares of Bank of Nova Scotia during the third quarter worth about $40,000. NuWave Investment Management LLC grew its holdings in shares of Bank of Nova Scotia by 8.9% during the third quarter. NuWave Investment Management LLC now owns 5,121 shares of the bank’s stock worth $244,000 after purchasing an additional 419 shares in the last quarter. Value Partners Investments Inc. grew its holdings in shares of Bank of Nova Scotia by 11.2% during the third quarter. Value Partners Investments Inc. now owns 1,101,341 shares of the bank’s stock worth $52,789,000 after purchasing an additional 111,309 shares in the last quarter. Finally, K.J. Harrison & Partners Inc grew its holdings in shares of Bank of Nova Scotia by 2.2% during the third quarter. K.J. Harrison & Partners Inc now owns 42,058 shares of the bank’s stock worth $2,016,000 after purchasing an additional 925 shares in the last quarter. 45.19% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at C$52.01 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.05 and a current ratio of 1.05. The Bank of Nova Scotia has a fifty-two week low of C$45.26 and a fifty-two week high of C$74.86. The stock has a 50 day moving average price of C$50.35 and a two-hundred day moving average price of C$52.98. The company has a market capitalization of C$61.98 billion, a P/E ratio of 8.33, a PEG ratio of 1.89 and a beta of 0.98.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Wednesday, January 4th will be given a $0.756 dividend. The ex-dividend date is Tuesday, January 3rd. This represents a $3.02 annualized dividend and a yield of 5.81%. Bank of Nova Scotia’s payout ratio is currently 48.72%.

Analysts Set New Price Targets

BNS has been the subject of several recent analyst reports. Scotiabank cut their price objective on Bank of Nova Scotia from C$83.50 to C$81.50 and set a “sector perform” rating for the company in a report on Wednesday, November 30th. StockNews.com began coverage on Bank of Nova Scotia in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Hold” and an average price target of C$89.77.

About Bank of Nova Scotia

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The Bank of Nova Scotia engages in the provision of various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.