Dimensional Fund Advisors LP raised its stake in shares of The Bank of Nova Scotia (NYSE:BNS – Free Report) (TSE:BNS) by 5.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,614,177 shares of the bank’s stock after purchasing an additional 279,872 shares during the quarter. Dimensional Fund Advisors LP owned 0.47% of Bank of Nova Scotia worth $280,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. Endurance Wealth Management Inc. lifted its holdings in shares of Bank of Nova Scotia by 1,190.5% in the 1st quarter. Endurance Wealth Management Inc. now owns 542 shares of the bank’s stock worth $27,000 after acquiring an additional 500 shares during the last quarter. WealthPlan Investment Management LLC bought a new stake in shares of Bank of Nova Scotia in the 2nd quarter worth approximately $82,000. HBC Financial Services PLLC bought a new stake in shares of Bank of Nova Scotia in the 1st quarter worth approximately $30,000. Mcmillion Capital Management Inc. bought a new stake in shares of Bank of Nova Scotia in the 2nd quarter worth approximately $42,000. Finally, CWM LLC increased its stake in shares of Bank of Nova Scotia by 150.8% in the first quarter. CWM LLC now owns 1,377 shares of the bank’s stock worth $69,000 after buying an additional 828 shares during the period. 43.18% of the stock is currently owned by institutional investors.
Bank of Nova Scotia Stock Up 0.6 %
Shares of Bank of Nova Scotia stock opened at $44.21 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.55. The company’s fifty day simple moving average is $44.13 and its two-hundred day simple moving average is $47.14. The company has a market cap of $53.28 billion, a P/E ratio of 9.29, a PEG ratio of 1.99 and a beta of 1.02. The Bank of Nova Scotia has a 12-month low of $39.79 and a 12-month high of $55.91.
Bank of Nova Scotia Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Tuesday, October 3rd were issued a dividend of $0.7801 per share. The ex-dividend date was Friday, September 29th. This represents a $3.12 annualized dividend and a dividend yield of 7.06%. Bank of Nova Scotia’s payout ratio is 65.55%.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on BNS shares. Barclays lifted their target price on shares of Bank of Nova Scotia from $63.00 to $65.00 and gave the stock an “underweight” rating in a research note on Monday, August 21st. StockNews.com downgraded shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Finally, Scotiabank decreased their target price on shares of Bank of Nova Scotia from $68.00 to $66.00 and set a “hold” rating on the stock in a research note on Wednesday, August 30th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $69.33.
Bank of Nova Scotia Company 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 in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.
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