May Hill Capital LLC Acquires New Shares in The Bank of Nova Scotia (NYSE:BNS)

May Hill Capital LLC bought a new position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,645 shares of the bank’s stock, valued at approximately $357,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Magnus Financial Group LLC increased its stake in Bank of Nova Scotia by 4.1% during the 4th quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank’s stock worth $274,000 after buying an additional 200 shares during the period. Private Advisor Group LLC grew its stake in shares of Bank of Nova Scotia by 3.5% in the fourth quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock worth $336,000 after acquiring an additional 211 shares in the last quarter. Moran Wealth Management LLC increased its position in shares of Bank of Nova Scotia by 6.5% during the fourth quarter. Moran Wealth Management LLC now owns 3,925 shares of the bank’s stock worth $211,000 after acquiring an additional 240 shares during the period. Lindbrook Capital LLC raised its stake in shares of Bank of Nova Scotia by 10.2% in the fourth quarter. Lindbrook Capital LLC now owns 2,860 shares of the bank’s stock valued at $154,000 after acquiring an additional 264 shares in the last quarter. Finally, Merit Financial Group LLC raised its stake in shares of Bank of Nova Scotia by 5.8% in the fourth quarter. Merit Financial Group LLC now owns 4,905 shares of the bank’s stock valued at $264,000 after acquiring an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

BNS stock opened at $47.44 on Tuesday. The business has a 50 day moving average price of $49.80 and a 200 day moving average price of $52.30. 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 stock has a market cap of $59.08 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a fifty-two week low of $43.68 and a fifty-two week high of $57.07.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 annualized dividend and a dividend yield of 6.25%. Bank of Nova Scotia’s dividend payout ratio is presently 82.77%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Bank of America lowered shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research note on Monday. Cibc World Mkts cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, Royal Bank of Canada lowered their price target on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given 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 price target of $81.00.

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.