The Bank of Nova Scotia (NYSE:BNS) Shares Purchased by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc raised its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 54,794 shares of the bank’s stock after acquiring an additional 3,175 shares during the period. K.J. Harrison & Partners Inc’s holdings in Bank of Nova Scotia were worth $2,936,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Allworth Financial LP increased its stake in shares of Bank of Nova Scotia by 121.1% in the 4th quarter. Allworth Financial LP now owns 639 shares of the bank’s stock worth $33,000 after acquiring an additional 350 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Bank of Nova Scotia by 1,588.2% during 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 last quarter. Fortitude Family Office LLC acquired a new position in shares of Bank of Nova Scotia in the 4th quarter worth approximately $73,000. Blue Trust Inc. boosted its position in shares of Bank of Nova Scotia by 171.6% during the 3rd quarter. Blue Trust Inc. now owns 1,578 shares of the bank’s stock worth $86,000 after purchasing an additional 997 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Bank of Nova Scotia in the 3rd quarter valued at approximately $111,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BNS. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th. UBS Group raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Cibc World Mkts lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Bank of Nova Scotia has a consensus rating of “Hold” and a consensus price target of $75.50.

Bank of Nova Scotia Price Performance

Shares of NYSE:BNS opened at $50.45 on Thursday. The Bank of Nova Scotia has a one year low of $43.67 and a one year high of $57.07. The stock has a market capitalization of $62.84 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.16 and a beta of 1.07. The company has a 50-day simple moving average of $51.79 and a 200-day simple moving average of $52.37. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.7415 per share. This represents a $2.97 annualized dividend and a yield of 5.88%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio is presently 68.06%.

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.