Jones Financial Companies Lllp Increases Stock Position in The Bank of Nova Scotia (NYSE:BNS)

Jones Financial Companies Lllp lifted its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 74.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,814 shares of the bank’s stock after purchasing an additional 18,628 shares during the period. Jones Financial Companies Lllp’s holdings in Bank of Nova Scotia were worth $2,354,000 at the end of the most recent quarter.

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

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $48.59 on Thursday. The firm’s 50 day moving average is $51.35 and its 200 day moving average is $52.48. The stock has a market capitalization of $60.53 billion, a P/E ratio of 11.25, a PEG ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a 12 month low of $43.67 and a 12 month high of $57.07. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia’s payout ratio is currently 82.77%.

Analysts Set New Price Targets

BNS has been the topic of a number of recent 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. Royal Bank of Canada dropped 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. Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. Barclays raised shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. Finally, Canaccord Genuity Group raised 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 assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.