The Bank of Nova Scotia (NYSE:BNS) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. raised its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 337,650 shares of the bank’s stock after acquiring an additional 25,056 shares during the quarter. American Century Companies Inc.’s holdings in Bank of Nova Scotia were worth $18,132,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Bank of Nova Scotia during the 4th quarter valued at about $31,000. Allworth Financial LP grew its holdings in Bank of Nova Scotia by 121.1% in the fourth quarter. Allworth Financial LP now owns 639 shares of the bank’s stock valued at $33,000 after purchasing an additional 350 shares during the period. BNP Paribas Financial Markets increased its position in shares of Bank of Nova Scotia by 1,588.2% in the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock valued at $47,000 after buying an additional 810 shares in the last quarter. Fortitude Family Office LLC acquired a new position in shares of Bank of Nova Scotia during the 4th quarter worth approximately $73,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Bank of Nova Scotia during the 3rd quarter valued at approximately $111,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Royal Bank of Canada cut their target price on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Cibc World Mkts lowered shares of 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 cut Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $81.00.

Bank of Nova Scotia Price Performance

Shares of NYSE BNS opened at $47.44 on Tuesday. The firm has a 50-day simple moving average of $49.80 and a 200-day simple moving average of $52.30. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $59.08 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a 52 week low of $43.68 and a 52 week high of $57.07.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 6.25%. Bank of Nova Scotia’s payout ratio is 82.77%.

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.