American Century Companies Inc. Increases Stock Position in The Bank of Nova Scotia (NYSE:BNS)

American Century Companies Inc. boosted its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 8.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 337,650 shares of the bank’s stock after buying an additional 25,056 shares during the quarter. American Century Companies Inc.’s holdings in Bank of Nova Scotia were worth $18,132,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in Bank of Nova Scotia in the fourth quarter valued at about $397,000. Royal London Asset Management Ltd. grew its holdings in Bank of Nova Scotia by 1.5% in the fourth quarter. Royal London Asset Management Ltd. now owns 155,706 shares of the bank’s stock worth $8,365,000 after purchasing an additional 2,292 shares during the last quarter. Maryland State Retirement & Pension System increased its position in shares of Bank of Nova Scotia by 3.2% during the fourth quarter. Maryland State Retirement & Pension System now owns 137,078 shares of the bank’s stock worth $7,358,000 after purchasing an additional 4,260 shares in the last quarter. Generali Asset Management SPA SGR purchased a new stake in shares of Bank of Nova Scotia during the 4th quarter valued at $10,815,000. Finally, Signaturefd LLC boosted its position in shares of Bank of Nova Scotia by 12.1% in the 4th quarter. Signaturefd LLC now owns 20,702 shares of the bank’s stock worth $1,112,000 after purchasing an additional 2,232 shares in the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

BNS opened at $47.44 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 Bank of Nova Scotia has a 12-month low of $43.68 and a 12-month high of $57.07. The firm has a 50 day moving average of $49.80 and a two-hundred day moving average of $52.30. The firm has a market capitalization of $59.08 billion, a PE ratio of 10.98, a P/E/G ratio of 1.16 and a beta of 1.11.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.7415 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 annualized dividend and a dividend yield of 6.25%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 82.77%.

Wall Street Analyst Weigh In

A number of research firms have commented on BNS. CIBC reiterated a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Bank of America lowered shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research report on Monday. Cibc World Mkts downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada decreased their price target 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $81.00.

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.