1832 Asset Management L.P. Has $940.47 Million Position in Bank of Nova Scotia (The) $BNS

1832 Asset Management L.P. decreased its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,015,979 shares of the bank’s stock after selling 701,307 shares during the period. Bank of Nova Scotia makes up 0.7% of 1832 Asset Management L.P.’s holdings, making the stock its 15th biggest position. 1832 Asset Management L.P. owned 1.37% of Bank of Nova Scotia worth $940,473,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Bank of Nova Scotia by 3.4% during the second quarter. Vanguard Group Inc. now owns 55,005,337 shares of the bank’s stock worth $3,041,575,000 after buying an additional 1,821,166 shares in the last quarter. Norges Bank bought a new stake in shares of Bank of Nova Scotia during the 2nd quarter worth approximately $838,738,000. Scotia Capital Inc. boosted its position in shares of Bank of Nova Scotia by 0.6% during the 2nd quarter. Scotia Capital Inc. now owns 14,231,690 shares of the bank’s stock worth $786,729,000 after acquiring an additional 90,158 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Bank of Nova Scotia by 83.4% in the second quarter. JPMorgan Chase & Co. now owns 13,148,255 shares of the bank’s stock valued at $726,704,000 after acquiring an additional 5,979,338 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Bank of Nova Scotia by 255.9% in the first quarter. Goldman Sachs Group Inc. now owns 10,174,780 shares of the bank’s stock valued at $482,590,000 after acquiring an additional 7,315,915 shares during the last quarter. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Stock Performance

Shares of Bank of Nova Scotia stock opened at $70.51 on Wednesday. The business has a 50-day moving average price of $65.77 and a two-hundred day moving average price of $59.98. Bank of Nova Scotia has a 1-year low of $44.09 and a 1-year high of $71.00. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.66. The company has a market cap of $87.18 billion, a P/E ratio of 18.96, a PEG ratio of 1.06 and a beta of 1.13.

Bank of Nova Scotia Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Tuesday, January 6th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend is Tuesday, January 6th. Bank of Nova Scotia’s dividend payout ratio (DPR) is 84.95%.

Analyst Upgrades and Downgrades

BNS has been the subject of several research analyst reports. Wall Street Zen raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Bank of Nova Scotia in a research note on Wednesday, October 8th. Raymond James Financial started coverage on shares of Bank of Nova Scotia in a report on Tuesday, November 25th. They set an “outperform” rating for the company. Finally, Royal Bank Of Canada raised their price objective on Bank of Nova Scotia from $80.00 to $86.00 and gave the company a “sector perform” rating in a report on Wednesday, August 27th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $86.00.

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.