Fortitude Family Office LLC Makes New $73,000 Investment in The Bank of Nova Scotia (NYSE:BNS)

Fortitude Family Office LLC bought a new position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,350 shares of the bank’s stock, valued at approximately $73,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Toronto Dominion Bank grew its position 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 during the last quarter. Mackenzie Financial Corp grew its position in shares of Bank of Nova Scotia by 4.7% in the 2nd quarter. Mackenzie Financial Corp now owns 15,091,880 shares of the bank’s stock valued at $690,438,000 after buying an additional 683,946 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position 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 during the last quarter. CIBC Asset Management Inc grew its position in shares of Bank of Nova Scotia by 2.4% in the 3rd quarter. CIBC Asset Management Inc now owns 10,074,518 shares of the bank’s stock valued at $550,729,000 after buying an additional 240,803 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Bank of Nova Scotia by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 9,281,724 shares of the bank’s stock valued at $424,497,000 after buying an additional 57,796 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, TD Securities upgraded 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Bank of Nova Scotia Stock Down 0.6 %

Shares of NYSE:BNS opened at $51.36 on Friday. The business’s 50 day simple moving average is $54.49 and its two-hundred day simple moving average is $51.18. The firm has a market cap of $63.95 billion, a P/E ratio of 11.89, a PEG ratio of 1.26 and a beta of 1.08. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The Bank of Nova Scotia has a 52-week low of $43.67 and a 52-week high of $57.07.

Bank of Nova Scotia Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th will be issued a $0.7535 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.01 annualized dividend and a yield of 5.87%. Bank of Nova Scotia’s payout ratio is currently 72.45%.

About Bank of Nova Scotia

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.