Stifel Financial Corp Boosts Stock Position in The Bank of Nova Scotia (NYSE:BNS)

Stifel Financial Corp raised its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 14.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,054 shares of the bank’s stock after purchasing an additional 7,970 shares during the quarter. Stifel Financial Corp’s holdings in Bank of Nova Scotia were worth $3,490,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of Bank of Nova Scotia by 3,127.8% during the second quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock worth $27,000 after acquiring an additional 563 shares during the period. BNP Paribas Financial Markets increased its holdings in Bank of Nova Scotia by 1,588.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock worth $47,000 after purchasing an additional 810 shares during the period. City State Bank bought a new stake in Bank of Nova Scotia during the 3rd quarter valued at $57,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Bank of Nova Scotia in the 2nd quarter worth $104,000. Finally, Spartan Fund Management Inc. bought a new position in shares of Bank of Nova Scotia during the 2nd quarter worth $118,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Royal Bank of Canada lifted 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 report on Wednesday, December 4th. Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Barclays raised Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of Nova Scotia presently has an average rating of “Moderate Buy” and an average price target of $72.00.

Bank of Nova Scotia Trading Down 0.9 %

Shares of NYSE:BNS opened at $54.94 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $68.40 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.26 and a beta of 1.07. The business’s 50-day moving average is $54.17 and its 200 day moving average is $50.35. The Bank of Nova Scotia has a 1 year low of $43.67 and a 1 year high of $57.07.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th will be paid a $0.7535 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date is Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 72.45%.

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.