Franklin Resources Inc. Acquires 12,073 Shares of The Bank of Nova Scotia (NYSE:BNS)

Franklin Resources Inc. boosted its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,299,271 shares of the bank’s stock after purchasing an additional 12,073 shares during the quarter. Franklin Resources Inc.’s holdings in Bank of Nova Scotia were worth $69,680,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in BNS. Murphy & Mullick Capital Management Corp purchased a new stake in Bank of Nova Scotia during the 4th quarter valued at approximately $25,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Bank of Nova Scotia during the fourth quarter valued at $31,000. Allworth Financial LP grew its stake in Bank of Nova Scotia by 121.1% during 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 in the last quarter. BNP Paribas Financial Markets increased its holdings in Bank of Nova Scotia by 1,588.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock valued at $47,000 after acquiring an additional 810 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in Bank of Nova Scotia in the 4th quarter worth $73,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $48.39 on Friday. The business’s fifty day simple moving average is $49.55 and its 200-day simple moving average is $52.20. 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 Bank of Nova Scotia has a 12-month low of $43.68 and a 12-month high of $57.07. The company has a market cap of $60.27 billion, a PE ratio of 11.20, a PEG ratio of 1.16 and a beta of 1.02.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. This represents a $2.97 annualized dividend and a dividend yield of 6.13%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 82.77%.

Bank of Nova Scotia Company 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.