Skandinaviska Enskilda Banken AB publ Grows Stake in The Bank of Nova Scotia (NYSE:BNS)

Skandinaviska Enskilda Banken AB publ increased its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,686 shares of the bank’s stock after buying an additional 5,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Bank of Nova Scotia were worth $8,661,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Bank of Nova Scotia during the fourth quarter valued at $31,000. Allworth Financial LP grew its holdings in shares of Bank of Nova Scotia by 121.1% during the fourth quarter. Allworth Financial LP now owns 639 shares of the bank’s stock valued at $33,000 after buying an additional 350 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Bank of Nova Scotia by 1,588.2% during the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock valued at $47,000 after buying an additional 810 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in shares of Bank of Nova Scotia during the fourth quarter valued at $73,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Bank of Nova Scotia during the third quarter valued at $111,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BNS has been the topic of a number of research analyst reports. Barclays raised shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. Royal Bank of Canada decreased their target price on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. 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. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of Nova Scotia has an average rating of “Hold” and an average price target of $75.50.

Bank of Nova Scotia Trading Up 1.6 %

Shares of Bank of Nova Scotia stock opened at $47.98 on Friday. The firm has a 50-day simple moving average of $50.53 and a two-hundred day simple moving average of $52.44. The company has a market cap of $59.77 billion, a P/E ratio of 11.11, a price-to-earnings-growth 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. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given 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 6.18%. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 82.77%.

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.