Candriam S.C.A. reduced its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 27.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,070 shares of the bank's stock after selling 8,215 shares during the quarter. Candriam S.C.A.'s holdings in Bank of Nova Scotia were worth $1,185,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its position in Bank of Nova Scotia by 11.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,713 shares of the bank's stock worth $148,000 after acquiring an additional 288 shares during the period. Fiera Capital Corp lifted its holdings in shares of Bank of Nova Scotia by 326.7% in the third quarter. Fiera Capital Corp now owns 80,956 shares of the bank's stock valued at $4,417,000 after buying an additional 61,982 shares during the period. Sigma Planning Corp lifted its holdings in shares of Bank of Nova Scotia by 1.9% in the third quarter. Sigma Planning Corp now owns 11,089 shares of the bank's stock valued at $604,000 after buying an additional 210 shares during the period. Alan B Lancz & Associates Inc. acquired a new stake in shares of Bank of Nova Scotia in the third quarter valued at $213,000. Finally, Addison Advisors LLC lifted its holdings in shares of Bank of Nova Scotia by 7.3% in the third quarter. Addison Advisors LLC now owns 3,357 shares of the bank's stock valued at $183,000 after buying an additional 227 shares during the period. 49.13% of the stock is currently owned by institutional investors.
Bank of Nova Scotia Stock Performance
Shares of BNS stock traded down $0.35 during mid-day trading on Thursday, reaching $47.24. The stock had a trading volume of 828,912 shares, compared to its average volume of 1,820,881. The firm's 50 day simple moving average is $50.76 and its 200 day simple moving average is $52.49. 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 Bank of Nova Scotia has a one year low of $43.67 and a one year high of $57.07. The firm has a market cap of $58.83 billion, a PE ratio of 10.93, a P/E/G ratio of 1.16 and a beta of 1.11.
Bank of Nova Scotia Cuts Dividend
The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.28%. Bank of Nova Scotia's payout ratio is presently 82.77%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on BNS shares. Canaccord Genuity Group raised Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. Barclays raised Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a research report on Thursday, November 21st. Canaccord Genuity Group raised Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. UBS Group raised Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Monday, November 18th. Finally, Bank of America upgraded Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $75.50.
Read Our Latest Stock Analysis on BNS
About Bank of Nova Scotia
(
Free Report)
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.
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