Tower Research Capital LLC TRC Buys 248 Shares of The Bank of Nova Scotia (NYSE:BNS)

Tower Research Capital LLC TRC lifted its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 4.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,399 shares of the bank’s stock after buying an additional 248 shares during the period. Tower Research Capital LLC TRC’s holdings in Bank of Nova Scotia were worth $290,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Murphy & Mullick Capital Management Corp acquired a new position in Bank of Nova Scotia during the 4th quarter worth $25,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Bank of Nova Scotia during the fourth quarter valued at $31,000. Allworth Financial LP boosted its holdings in Bank of Nova Scotia by 121.1% in the fourth quarter. Allworth Financial LP now owns 639 shares of the bank’s stock valued at $33,000 after acquiring an additional 350 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in Bank of Nova Scotia in the fourth quarter worth about $73,000. Finally, Atlas Capital Advisors Inc. bought a new stake in Bank of Nova Scotia during the 4th quarter worth about $83,000. 49.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BNS has been the subject of several analyst reports. Royal Bank of Canada lowered their price target on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Bank of America lowered shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a report on Monday, March 31st. Cibc World Mkts downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $81.00.

Bank of Nova Scotia Trading Up 1.1 %

Shares of NYSE BNS opened at $50.36 on Friday. The Bank of Nova Scotia has a twelve month low of $43.68 and a twelve month high of $57.07. The stock has a market cap of $62.73 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 1.16 and a beta of 1.02. 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 company’s fifty day moving average is $47.92 and its 200-day moving average is $51.30.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st were paid a $0.7415 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 5.89%. Bank of Nova Scotia’s payout ratio is 83.05%.

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.