The Bank of Nova Scotia (NYSE:BNS) Shares Bought by Adero Partners LLC

Adero Partners LLC boosted its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 9.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,096 shares of the bank’s stock after buying an additional 337 shares during the period. Adero Partners LLC’s holdings in Bank of Nova Scotia were worth $220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Silverlake Wealth Management LLC increased its position in Bank of Nova Scotia by 6.6% during the 4th quarter. Silverlake Wealth Management LLC now owns 8,504 shares of the bank’s stock valued at $457,000 after buying an additional 528 shares in the last quarter. Five Oceans Advisors increased its holdings in shares of Bank of Nova Scotia by 13.8% in the fourth quarter. Five Oceans Advisors now owns 4,330 shares of the bank’s stock valued at $233,000 after purchasing an additional 525 shares during the period. Mediolanum International Funds Ltd acquired a new position in shares of Bank of Nova Scotia in the fourth quarter valued at about $292,000. Orca Wealth Management LLC acquired a new position in shares of Bank of Nova Scotia in the fourth quarter valued at about $888,000. Finally, Blue Trust Inc. increased its holdings in shares of Bank of Nova Scotia by 98.6% in the fourth quarter. Blue Trust Inc. now owns 3,134 shares of the bank’s stock valued at $171,000 after purchasing an additional 1,556 shares during the period. 49.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Barclays raised Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada raised their target price on Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Bank of Nova Scotia Stock Up 0.8 %

Bank of Nova Scotia stock opened at $50.90 on Friday. The firm has a market cap of $63.39 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 1.16 and a beta of 1.07. The business’s 50-day moving average price is $53.22 and its 200 day moving average price is $51.85. 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 Bank of Nova Scotia has a 52 week low of $43.67 and a 52 week high of $57.07.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th were given a dividend of $0.7535 per share. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $3.01 dividend on an annualized basis and a yield of 5.92%. Bank of Nova Scotia’s dividend payout ratio is currently 68.29%.

Bank of Nova Scotia Company 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.