Quantinno Capital Management LP Grows Position in The Bank of Nova Scotia (NYSE:BNS)

Quantinno Capital Management LP boosted its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 213.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,274 shares of the bank’s stock after purchasing an additional 36,289 shares during the quarter. Quantinno Capital Management LP’s holdings in Bank of Nova Scotia were worth $2,862,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new position in Bank of Nova Scotia in the fourth quarter valued at approximately $25,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Bank of Nova Scotia in the fourth quarter valued at approximately $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 purchasing an additional 350 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new position in Bank of Nova Scotia in the fourth quarter valued at approximately $83,000. Finally, Dunhill Financial LLC acquired a new position in Bank of Nova Scotia in the fourth quarter valued at approximately $95,000. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Performance

Shares of BNS opened at $51.75 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The firm has a market cap of $64.46 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The company’s 50 day simple moving average is $48.36 and its 200-day simple moving average is $51.14. The Bank of Nova Scotia has a 12-month low of $43.68 and a 12-month high of $57.07.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.7415 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a dividend yield of 5.73%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 83.05%.

Analysts Set New Price Targets

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

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.