Fox Run Management L.L.C. Invests $263,000 in The Bank of Nova Scotia (NYSE:BNS)

Fox Run Management L.L.C. bought a new stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,896 shares of the bank’s stock, valued at approximately $263,000.

Several other hedge funds also recently added to or reduced their stakes in BNS. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Bank of Nova Scotia in the 4th quarter valued at about $31,000. Allworth Financial LP lifted its holdings in Bank of Nova Scotia by 121.1% in the fourth quarter. Allworth Financial LP now owns 639 shares of the bank’s stock valued at $33,000 after acquiring an additional 350 shares during the period. BNP Paribas Financial Markets boosted its position in Bank of Nova Scotia by 1,588.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock worth $47,000 after purchasing an additional 810 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in shares of Bank of Nova Scotia during the 4th quarter worth approximately $73,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Bank of Nova Scotia during the 3rd quarter valued at approximately $111,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Stock Performance

NYSE:BNS opened at $48.35 on Friday. The company has a fifty day moving average of $49.93 and a two-hundred day moving average of $52.35. The Bank of Nova Scotia has a fifty-two week low of $43.68 and a fifty-two week high of $57.07. The stock has a market capitalization of $60.23 billion, a PE ratio of 11.19, a P/E/G ratio of 1.16 and a beta of 1.11. 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 declared 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 6.13%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio is presently 82.77%.

Analyst Ratings Changes

BNS has been the topic of a number of recent analyst reports. CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. 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 note on Wednesday, February 26th. Finally, 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $81.00.

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.