Executive Wealth Management LLC Takes $619,000 Position in The Bank of Nova Scotia (NYSE:BNS)

Executive Wealth Management LLC purchased a new position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,352 shares of the bank’s stock, valued at approximately $619,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its holdings in shares of Bank of Nova Scotia by 3,127.8% in the second quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock valued at $27,000 after purchasing an additional 563 shares during the period. BNP Paribas Financial Markets increased its stake 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 valued at $47,000 after buying an additional 810 shares during the period. City State Bank purchased a new position in Bank of Nova Scotia during the 3rd quarter worth $57,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Bank of Nova Scotia in the 2nd quarter worth $104,000. Finally, Spartan Fund Management Inc. purchased a new stake in shares of Bank of Nova Scotia in the second quarter valued at about $118,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

NYSE BNS opened at $55.83 on Wednesday. The business has a 50 day moving average price of $53.95 and a 200 day moving average price of $50.06. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $69.48 billion, a P/E ratio of 12.92, a PEG ratio of 1.25 and a beta of 1.07. The Bank of Nova Scotia has a 1-year low of $43.67 and a 1-year high of $57.07.

Bank of Nova Scotia Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th will be given a $0.7535 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date of this dividend is Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio is currently 72.45%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BNS shares. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Royal Bank of Canada increased their target price on Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. UBS Group upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. 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, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.00.

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.