The Bank of Nova Scotia (NYSE:BNS) Shares Bought by Moran Wealth Management LLC

Moran Wealth Management LLC raised its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 6.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,925 shares of the bank’s stock after acquiring an additional 240 shares during the period. Moran Wealth Management LLC’s holdings in Bank of Nova Scotia were worth $211,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in Bank of Nova Scotia by 17.5% during the third quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank’s stock worth $241,981,000 after purchasing an additional 660,097 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Bank of Nova Scotia by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,744,062 shares of the bank’s stock worth $204,214,000 after purchasing an additional 150,247 shares during the period. Citigroup Inc. raised its stake in shares of Bank of Nova Scotia by 12.3% during the 3rd quarter. Citigroup Inc. now owns 580,664 shares of the bank’s stock worth $31,673,000 after buying an additional 63,528 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Bank of Nova Scotia by 2.4% in the 3rd quarter. CIBC Asset Management Inc now owns 10,074,518 shares of the bank’s stock valued at $550,729,000 after buying an additional 240,803 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Bank of Nova Scotia by 10.3% in the third quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank’s stock valued at $310,817,000 after buying an additional 524,496 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

Shares of BNS opened at $47.59 on Thursday. The Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month high of $57.07. The stock has a market cap of $59.28 billion, a P/E ratio of 11.02, a PEG ratio of 1.16 and a beta of 1.11. 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 company has a 50-day moving average of $50.76 and a two-hundred day moving average of $52.49.

Bank of Nova Scotia Cuts Dividend

The business also recently announced 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. This represents a $2.97 dividend on an annualized basis and a yield of 6.23%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s payout ratio is currently 82.77%.

Analyst Ratings Changes

BNS has been the subject of several research analyst reports. Cibc World Mkts cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. 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. Royal Bank of Canada lowered 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. CIBC reiterated a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Finally, Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $75.50.

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.