Geode Capital Management LLC Has $310.82 Million Holdings in The Bank of Nova Scotia (NYSE:BNS)

Geode Capital Management LLC raised its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 10.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,640,471 shares of the bank’s stock after purchasing an additional 524,496 shares during the period. Geode Capital Management LLC’s holdings in Bank of Nova Scotia were worth $310,817,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BNS. Sigma Planning Corp boosted its stake in shares of Bank of Nova Scotia by 1.9% in the third quarter. Sigma Planning Corp now owns 11,089 shares of the bank’s stock valued at $604,000 after buying an additional 210 shares during the period. Signaturefd LLC grew its holdings in shares of Bank of Nova Scotia by 1.2% during the 3rd quarter. Signaturefd LLC now owns 18,470 shares of the bank’s stock worth $1,006,000 after purchasing an additional 216 shares in the last quarter. Addison Advisors LLC increased its position in shares of Bank of Nova Scotia by 7.3% in the third quarter. Addison Advisors LLC now owns 3,357 shares of the bank’s stock worth $183,000 after purchasing an additional 227 shares during the period. Farther Finance Advisors LLC raised its stake in Bank of Nova Scotia by 11.9% in the third 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. Finally, Pinnacle Associates Ltd. raised its stake in Bank of Nova Scotia by 1.1% in the third quarter. Pinnacle Associates Ltd. now owns 27,800 shares of the bank’s stock valued at $1,515,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays raised shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. UBS Group upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada boosted their price target on 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. Finally, TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $72.00.

Bank of Nova Scotia Stock Up 0.3 %

Shares of BNS opened at $55.42 on Friday. The stock has a market capitalization of $69.00 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 1.26 and a beta of 1.07. The Bank of Nova Scotia has a 52 week low of $43.67 and a 52 week high of $57.07. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a fifty day moving average of $54.13 and a 200-day moving average of $50.24.

Bank of Nova Scotia Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.7535 per share. This represents a $3.01 annualized dividend and a dividend yield of 5.44%. The ex-dividend date of this dividend is Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 72.45%.

Bank of Nova Scotia Profile

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.