Mediolanum International Funds Ltd Makes New Investment in The Bank of Nova Scotia (NYSE:BNS)

Mediolanum International Funds Ltd bought a new position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 5,445 shares of the bank’s stock, valued at approximately $292,000.

A number of other institutional investors have also modified their holdings of BNS. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of 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 in the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of Bank of Nova Scotia by 5,380.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank’s stock valued at $216,447,000 after buying an additional 3,899,760 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Bank of Nova Scotia by 24.9% in the 3rd 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 buying an additional 2,346,995 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of 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 buying an additional 2,195,604 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Bank of Nova Scotia by 17.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank’s stock valued at $241,981,000 after buying an additional 660,097 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Stock Performance

BNS opened at $51.24 on Monday. The Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month high of $57.07. 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 capitalization of $63.81 billion, a PE ratio of 11.86, a P/E/G ratio of 1.17 and a beta of 1.08. The firm has a 50 day moving average of $53.60 and a two-hundred day moving average of $51.79.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th were given a dividend of $0.7535 per share. This represents a $3.01 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date of this dividend was Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio is presently 68.29%.

Wall Street Analyst Weigh In

BNS has been the topic of a number of recent analyst reports. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. UBS Group raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. Royal Bank of Canada increased their price objective on shares of Bank of Nova Scotia from $65.00 to $74.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 4th. Finally, TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

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.