609,780 Shares in The Bank of Nova Scotia (NYSE:BNS) Bought by Guardian Partners Inc.

Guardian Partners Inc. acquired a new position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 609,780 shares of the bank’s stock, valued at approximately $31,515,000. Bank of Nova Scotia comprises about 3.2% of Guardian Partners Inc.’s investment portfolio, making the stock its 5th biggest position.

Other institutional investors also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Bank of Nova Scotia in the fourth quarter worth $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 during the last quarter. BNP Paribas Financial Markets grew its stake 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 worth $47,000 after purchasing an additional 810 shares during the last quarter. Fortitude Family Office LLC bought a new stake in shares of Bank of Nova Scotia in the fourth quarter worth $73,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Bank of Nova Scotia in the third quarter worth $111,000. Institutional investors own 49.13% of the company’s stock.

Analyst Upgrades and Downgrades

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

Bank of Nova Scotia Stock Performance

Shares of BNS opened at $48.01 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $59.80 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The firm’s fifty day simple moving average is $50.15 and its two-hundred day simple moving average is $52.42. The Bank of Nova Scotia has a 12 month low of $43.68 and a 12 month high of $57.07.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.7415 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 annualized dividend and a dividend yield of 6.18%. Bank of Nova Scotia’s dividend payout ratio is currently 82.77%.

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 through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.