Americana Partners LLC Invests $5.03 Million in The Bank of Nova Scotia (NYSE:BNS)

Americana Partners LLC purchased a new position in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 93,600 shares of the bank's stock, valued at approximately $5,028,000.

Other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in Bank of Nova Scotia by 121.1% during the fourth quarter. Allworth Financial LP now owns 639 shares of the bank's stock worth $33,000 after buying an additional 350 shares during the period. BNP Paribas Financial Markets grew its stake in shares of 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 purchasing an additional 810 shares during the last quarter. Fortitude Family Office LLC purchased a new position in shares of Bank of Nova Scotia in the 4th quarter valued at approximately $73,000. Blue Trust Inc. grew its stake in shares of Bank of Nova Scotia by 171.6% in the 3rd quarter. Blue Trust Inc. now owns 1,578 shares of the bank's stock valued at $86,000 after purchasing an additional 997 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Bank of Nova Scotia in the 3rd quarter valued at approximately $111,000. Institutional investors and hedge funds own 49.13% of the company's stock.

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock traded up $0.23 during trading on Thursday, reaching $51.10. The company's stock had a trading volume of 964,703 shares, compared to its average volume of 1,899,973. The business has a 50 day moving average price of $52.22 and a 200-day moving average price of $52.20. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $63.64 billion, a P/E ratio of 11.83, a price-to-earnings-growth ratio of 1.16 and a beta of 1.07. The Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month high of $57.07.

Bank of Nova Scotia Cuts Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $3.01 dividend on an annualized basis and a yield of 5.90%. Bank of Nova Scotia's payout ratio is 68.29%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. UBS Group upgraded Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research note on Monday, November 18th. Cibc World Mkts downgraded Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Barclays upgraded Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a research note on Thursday, November 21st. Royal Bank of Canada lifted their target price on Bank of Nova Scotia from $65.00 to $74.00 and gave the company a "sector perform" rating in a research note on Wednesday, December 4th. Finally, CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $72.00.

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.