Bridgewater Associates LP Has $7.38 Million Stock Position in The Bank of Nova Scotia (NYSE:BNS)

Bridgewater Associates LP increased its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 67.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 137,431 shares of the bank’s stock after purchasing an additional 55,202 shares during the quarter. Bridgewater Associates LP’s holdings in Bank of Nova Scotia were worth $7,376,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BNS. BNP Paribas Financial Markets grew its stake in 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 acquiring an additional 810 shares during the period. State Street Corp lifted its holdings in shares of Bank of Nova Scotia by 1.4% in the 3rd quarter. State Street Corp now owns 124,030 shares of the bank’s stock worth $6,758,000 after purchasing an additional 1,690 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in Bank of Nova Scotia by 20.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 5,821 shares of the bank’s stock valued at $317,000 after purchasing an additional 979 shares in the last quarter. Barclays PLC raised its holdings in Bank of Nova Scotia by 27.5% during the third quarter. Barclays PLC now owns 214,957 shares of the bank’s stock worth $11,712,000 after buying an additional 46,421 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Bank of Nova Scotia during the third quarter valued at about $111,000. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $47.08 on Thursday. The Bank of Nova Scotia has a 52 week low of $43.68 and a 52 week high of $57.07. The firm’s 50-day simple moving average is $48.42 and its two-hundred day simple moving average is $51.64. The firm has a market cap of $58.64 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 1.16 and a beta of 1.02. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be paid a $0.7415 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 annualized dividend and a yield of 6.30%. Bank of Nova Scotia’s payout ratio is 83.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Cibc World Mkts downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Bank of America lowered shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research report on Monday, March 31st. CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada dropped their target price 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Bank of Nova Scotia presently has a consensus 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.