Andra AP fonden Invests $489,000 in The Bank of Nova Scotia (NYSE:BNS)

Andra AP fonden bought a new stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 9,100 shares of the bank’s stock, valued at approximately $489,000.

Several other large investors also recently made changes to their positions in BNS. Farther Finance Advisors LLC grew its stake in shares of Bank of Nova Scotia by 11.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,713 shares of the bank’s stock valued at $148,000 after buying an additional 288 shares during the period. Fiera Capital Corp grew its stake in shares of Bank of Nova Scotia by 326.7% in the 3rd quarter. Fiera Capital Corp now owns 80,956 shares of the bank’s stock valued at $4,417,000 after buying an additional 61,982 shares during the period. Sigma Planning Corp grew its stake in shares of Bank of Nova Scotia by 1.9% in the 3rd quarter. Sigma Planning Corp now owns 11,089 shares of the bank’s stock valued at $604,000 after buying an additional 210 shares during the period. Alan B Lancz & Associates Inc. acquired a new stake in shares of Bank of Nova Scotia in the 3rd quarter valued at about $213,000. Finally, Addison Advisors LLC grew its stake in shares of Bank of Nova Scotia by 7.3% in the 3rd quarter. Addison Advisors LLC now owns 3,357 shares of the bank’s stock valued at $183,000 after buying an additional 227 shares during the period. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BNS. Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. UBS Group upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Monday, November 18th. Finally, CIBC reiterated a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Bank of Nova Scotia currently has a consensus rating of “Hold” and an average target price of $75.50.

Bank of Nova Scotia Price Performance

Shares of NYSE BNS opened at $48.33 on Monday. The Bank of Nova Scotia has a twelve month low of $43.67 and a twelve month high of $57.07. The stock’s 50 day moving average price is $51.13 and its 200-day moving average price is $52.52. The company has a market capitalization of $60.19 billion, a PE ratio of 11.19, a PEG ratio of 1.16 and a beta of 1.11. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 6.14%. Bank of Nova Scotia’s payout ratio is presently 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.