Dunhill Financial LLC Purchases New Position in The Bank of Nova Scotia (NYSE:BNS)

Dunhill Financial LLC bought a new stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the 4th quarter, HoldingsChannel.com reports. The fund bought 1,771 shares of the bank’s stock, valued at approximately $95,000.

Several other institutional investors have also recently made changes to their positions in the company. Barclays PLC grew its position in Bank of Nova Scotia by 27.5% during the third quarter. Barclays PLC now owns 214,957 shares of the bank’s stock valued at $11,712,000 after buying an additional 46,421 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Bank of Nova Scotia during the 3rd quarter worth about $111,000. Franklin Resources Inc. grew its position in shares of Bank of Nova Scotia by 15.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,287,198 shares of the bank’s stock valued at $68,689,000 after acquiring an additional 171,539 shares during the period. Fortitude Family Office LLC acquired a new position in Bank of Nova Scotia in the 4th quarter worth about $73,000. Finally, Advisors Management Group Inc. ADV boosted its position in Bank of Nova Scotia by 0.7% during the fourth quarter. Advisors Management Group Inc. ADV now owns 51,086 shares of the bank’s stock worth $2,744,000 after purchasing an additional 370 shares in the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Cibc World Mkts lowered shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Bank of America lowered shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research note on Monday, March 31st. Finally, Royal Bank of Canada cut their price objective on 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $81.00.

Bank of Nova Scotia Trading Down 0.4 %

Shares of Bank of Nova Scotia stock opened at $50.09 on Wednesday. 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 stock’s 50 day simple moving average is $47.93 and its 200-day simple moving average is $51.23. The stock has a market cap of $62.38 billion, a P/E ratio of 11.59, a P/E/G ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a 1-year low of $43.68 and a 1-year high of $57.07.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.7415 per share. This represents a $2.97 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date was Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 83.05%.

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.