Maryland State Retirement & Pension System Boosts Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

Maryland State Retirement & Pension System lifted its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 3.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 137,078 shares of the bank’s stock after purchasing an additional 4,260 shares during the period. Maryland State Retirement & Pension System’s holdings in Bank of Nova Scotia were worth $7,358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BNS. Magnus Financial Group LLC lifted its holdings in Bank of Nova Scotia by 4.1% during the fourth quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank’s stock worth $274,000 after buying an additional 200 shares during the period. Private Advisor Group LLC raised its position in shares of Bank of Nova Scotia by 3.5% in the 4th quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock worth $336,000 after acquiring an additional 211 shares in the last quarter. Moran Wealth Management LLC lifted its stake in shares of Bank of Nova Scotia by 6.5% during the 4th quarter. Moran Wealth Management LLC now owns 3,925 shares of the bank’s stock worth $211,000 after purchasing an additional 240 shares during the last quarter. Lindbrook Capital LLC boosted its position 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 valued at $154,000 after purchasing an additional 264 shares in the last quarter. Finally, Merit Financial Group LLC grew its stake in Bank of Nova Scotia by 5.8% in the fourth 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 during the last quarter. 49.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Royal Bank of Canada lowered 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 note on Wednesday, February 26th. Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Cibc World Mkts cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Finally, Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $75.50.

Bank of Nova Scotia Trading Down 0.9 %

NYSE:BNS opened at $48.32 on Wednesday. The firm has a fifty day simple moving average of $50.35 and a 200-day simple moving average of $52.47. 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 company has a market capitalization of $60.19 billion, a P/E ratio of 11.19, a PEG ratio of 1.16 and a beta of 1.11.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.7415 per share. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is 82.77%.

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.