Signaturefd LLC Increases Stock Position in The Bank of Nova Scotia (NYSE:BNS)

Signaturefd LLC increased its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 12.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,702 shares of the bank’s stock after purchasing an additional 2,232 shares during the quarter. Signaturefd LLC’s holdings in Bank of Nova Scotia were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BNS. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Bank of Nova Scotia by 260.1% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank’s stock valued at $298,575,000 after purchasing an additional 3,958,580 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Bank of Nova Scotia by 24.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank’s stock valued at $640,624,000 after purchasing an additional 2,346,995 shares during the period. Toronto Dominion Bank boosted its stake in shares of Bank of Nova Scotia by 9.6% in the third quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank’s stock valued at $1,361,752,000 after purchasing an additional 2,195,604 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Bank of Nova Scotia by 17.5% in the third quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank’s stock valued at $241,981,000 after purchasing an additional 660,097 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Bank of Nova Scotia by 10.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank’s stock valued at $310,817,000 after acquiring an additional 524,496 shares during the last quarter. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Trading Down 0.9 %

Bank of Nova Scotia stock opened at $48.32 on Wednesday. The firm’s 50-day moving average is $50.35 and its 200-day moving average is $52.47. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The Bank of Nova Scotia has a 1 year low of $43.68 and a 1 year high of $57.07. The company has a market cap of $60.19 billion, a P/E ratio of 11.19, a PEG ratio of 1.16 and a beta of 1.11.

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 issued 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 dividend payout ratio (DPR) is presently 82.77%.

Analyst Ratings Changes

BNS has been the topic of a number of research analyst reports. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. CIBC reiterated a “neutral” rating on shares of Bank of Nova Scotia in a research note 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. Cibc World Mkts downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada reduced their price objective 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 note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Bank of Nova Scotia currently has a consensus rating of “Hold” and an average target price of $75.50.

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.