Abel Hall LLC Invests $218,000 in The Bank of Nova Scotia (NYSE:BNS)

Abel Hall LLC purchased a new stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,000 shares of the bank’s stock, valued at approximately $218,000.

A number of other large investors have also recently bought and sold shares of BNS. Sigma Planning Corp raised its holdings in shares of Bank of Nova Scotia by 1.9% in the third 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 last quarter. Signaturefd LLC increased its position in Bank of Nova Scotia by 1.2% in the 3rd quarter. Signaturefd LLC now owns 18,470 shares of the bank’s stock valued at $1,006,000 after acquiring an additional 216 shares during the period. Addison Advisors LLC raised its stake in Bank of Nova Scotia by 7.3% during the 3rd quarter. Addison Advisors LLC now owns 3,357 shares of the bank’s stock valued at $183,000 after acquiring an additional 227 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Bank of Nova Scotia by 11.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,713 shares of the bank’s stock worth $148,000 after acquiring an additional 288 shares during the period. Finally, Pinnacle Associates Ltd. grew its stake in shares of Bank of Nova Scotia by 1.1% in the 3rd quarter. Pinnacle Associates Ltd. now owns 27,800 shares of the bank’s stock valued at $1,515,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Wall Street Analyst Weigh In

BNS has been the subject of several analyst reports. UBS Group upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Monday, November 18th. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. Royal Bank of Canada lifted their target price on shares of Bank of Nova Scotia from $65.00 to $74.00 and gave the company a “sector perform” rating in a report on Wednesday, December 4th. Barclays upgraded shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. Finally, TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Bank of Nova Scotia has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Bank of Nova Scotia Stock Performance

Shares of BNS opened at $55.77 on Monday. 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 Bank of Nova Scotia has a 52-week low of $43.67 and a 52-week high of $57.07. The company has a 50-day simple moving average of $53.93 and a 200-day simple moving average of $50.00. The company has a market capitalization of $69.40 billion, a PE ratio of 12.91, a P/E/G ratio of 1.25 and a beta of 1.07.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th will be issued a $0.7535 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.01 dividend on an annualized basis and a yield of 5.40%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 72.45%.

About Bank of Nova Scotia

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.