Norges Bank Invests $690.75 Million in The Bank of Nova Scotia (NYSE:BNS)

Norges Bank purchased a new stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,879,797 shares of the bank’s stock, valued at approximately $690,746,000. Norges Bank owned approximately 1.03% of Bank of Nova Scotia as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Magnus Financial Group LLC raised its position in shares of Bank of Nova Scotia by 4.1% in the 4th quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank’s stock valued at $274,000 after buying an additional 200 shares in the last quarter. Private Advisor Group LLC raised its position in Bank of Nova Scotia by 3.5% during the fourth quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock valued at $336,000 after purchasing an additional 211 shares in the last quarter. Moran Wealth Management LLC raised its position in 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 valued at $211,000 after purchasing an additional 240 shares in the last quarter. Lindbrook Capital LLC lifted its stake in Bank of Nova Scotia by 10.2% during the fourth quarter. Lindbrook Capital LLC now owns 2,860 shares of the bank’s stock worth $154,000 after purchasing an additional 264 shares during the last quarter. Finally, Merit Financial Group LLC boosted its holdings in shares of Bank of Nova Scotia by 5.8% in the 4th quarter. Merit Financial Group LLC now owns 4,905 shares of the bank’s stock valued at $264,000 after purchasing an additional 271 shares in the last quarter. Institutional investors own 49.13% of the company’s stock.

Analyst Ratings Changes

BNS has been the subject of a number of research analyst reports. Royal Bank of Canada lowered their price target on 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. CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Finally, Cibc World Mkts downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of Nova Scotia has an average rating of “Hold” and an average target price of $81.00.

Bank of Nova Scotia Trading Down 0.8 %

NYSE BNS opened at $48.35 on Friday. The Bank of Nova Scotia has a 12 month low of $43.68 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. The firm has a market capitalization of $60.23 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The business’s 50-day moving average price is $49.93 and its two-hundred day moving average price is $52.35.

Bank of Nova Scotia Cuts Dividend

The firm 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 $0.7415 dividend. This represents a $2.97 annualized dividend and a dividend yield of 6.13%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 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.