Charles Schwab Investment Management Inc. Increases Stock Position in The Bank of Nova Scotia (NYSE:BNS)

Charles Schwab Investment Management Inc. increased its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,820,344 shares of the bank’s stock after buying an additional 76,282 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Bank of Nova Scotia were worth $205,048,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in shares of Bank of Nova Scotia by 121.1% during the fourth quarter. Allworth Financial LP now owns 639 shares of the bank’s stock worth $33,000 after acquiring an additional 350 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Bank of Nova Scotia by 1,588.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock valued at $47,000 after purchasing an additional 810 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in Bank of Nova Scotia during the 4th quarter valued at approximately $73,000. Wilmington Savings Fund Society FSB purchased a new stake in Bank of Nova Scotia during the 3rd quarter worth approximately $111,000. Finally, Farther Finance Advisors LLC raised its position in shares of Bank of Nova Scotia by 11.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,713 shares of the bank’s stock valued at $148,000 after purchasing an additional 288 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Analyst Ratings Changes

BNS has been the subject of a number of research analyst reports. Cibc World Mkts lowered shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. UBS Group raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Monday, November 18th. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Barclays upgraded Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Bank of Nova Scotia presently has an average rating of “Hold” and an average price target of $75.50.

Bank of Nova Scotia Price Performance

Shares of NYSE:BNS opened at $48.17 on Friday. The company has a market cap of $60.00 billion, a PE ratio of 11.15, a P/E/G ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a fifty-two week low of $43.67 and a fifty-two week high of $57.07. The firm has a 50-day simple moving average of $51.24 and a 200 day simple moving average of $52.45. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.7415 per share. This represents a $2.97 annualized dividend and a dividend yield of 6.16%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 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.