The Bank of Nova Scotia (NYSE:BNS) Shares Acquired by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. boosted its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 25.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,900,294 shares of the bank’s stock after purchasing an additional 388,961 shares during the quarter. Bank of Nova Scotia comprises about 3.7% of Mufg Securities Canada LTD.’s portfolio, making the stock its 10th biggest holding. Mufg Securities Canada LTD. owned approximately 0.15% of Bank of Nova Scotia worth $101,977,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Magnus Financial Group LLC raised its position in shares of Bank of Nova Scotia by 4.1% in the fourth quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank’s stock valued at $274,000 after buying an additional 200 shares in the last quarter. Private Advisor Group LLC increased its stake in Bank of Nova Scotia by 3.5% during the 4th quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock worth $336,000 after acquiring an additional 211 shares during the period. Moran Wealth Management LLC raised its holdings in Bank of Nova Scotia by 6.5% in the 4th quarter. Moran Wealth Management LLC now owns 3,925 shares of the bank’s stock valued at $211,000 after acquiring an additional 240 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of Bank of Nova Scotia by 10.2% during the 4th quarter. Lindbrook Capital LLC now owns 2,860 shares of the bank’s stock valued at $154,000 after acquiring an additional 264 shares during the period. Finally, Merit Financial Group LLC grew its holdings in shares of Bank of Nova Scotia by 5.8% during the 4th quarter. Merit Financial Group LLC now owns 4,905 shares of the bank’s stock worth $264,000 after purchasing an additional 271 shares in the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Performance

NYSE:BNS opened at $48.76 on Wednesday. The Bank of Nova Scotia has a twelve month low of $43.68 and a twelve month high of $57.07. 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’s 50-day simple moving average is $50.05 and its 200 day simple moving average is $52.40. The firm has a market capitalization of $60.73 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. This represents a $2.97 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio is 82.77%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. 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. Finally, Royal Bank of Canada reduced 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $81.00.

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.