Almanack Investment Partners LLC. Makes New $202,000 Investment in The Bank of Nova Scotia (NYSE:BNS)

Almanack Investment Partners LLC. purchased a new stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,758 shares of the bank’s stock, valued at approximately $202,000.

Other large investors have also added to or reduced their stakes in the company. Toronto Dominion Bank raised its holdings in Bank of Nova Scotia by 9.6% in the 3rd quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank’s stock valued at $1,361,752,000 after acquiring an additional 2,195,604 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Bank of Nova Scotia by 24.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank’s stock valued at $640,624,000 after purchasing an additional 2,346,995 shares in the last quarter. CIBC Asset Management Inc raised its stake in Bank of Nova Scotia by 2.4% in the third quarter. CIBC Asset Management Inc now owns 10,074,518 shares of the bank’s stock valued at $550,729,000 after purchasing an additional 240,803 shares in the last quarter. Geode Capital Management LLC grew its stake in Bank of Nova Scotia by 10.3% during the third quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank’s stock worth $310,817,000 after buying an additional 524,496 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Bank of Nova Scotia by 260.1% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank’s stock valued at $298,575,000 after buying an additional 3,958,580 shares during the period. Institutional investors and hedge funds own 49.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BNS. Royal Bank of Canada upped their price target on shares of Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 4th. UBS Group raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Monday, November 18th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Bank of Nova Scotia has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Bank of Nova Scotia Trading Up 0.0 %

NYSE BNS opened at $50.94 on Friday. The company has a market cap of $63.45 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 1.16 and a beta of 1.07. The Bank of Nova Scotia has a twelve month low of $43.67 and a twelve month high of $57.07. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The business’s fifty day moving average is $53.10 and its 200 day moving average is $51.84.

Bank of Nova Scotia Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.7535 per share. This represents a $3.01 annualized dividend and a dividend yield of 5.92%. The ex-dividend date of this dividend was Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 68.06%.

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.