Generali Asset Management SPA SGR Purchases Shares of 201,326 The Bank of Nova Scotia (NYSE:BNS)

Generali Asset Management SPA SGR acquired a new position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 201,326 shares of the bank's stock, valued at approximately $10,815,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Bank of Nova Scotia during the fourth quarter valued at approximately $31,000. Allworth Financial LP lifted its stake in shares of 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 lifted its stake in shares of Bank of Nova Scotia by 1,588.2% during the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank's stock worth $47,000 after buying an additional 810 shares during the period. Fortitude Family Office LLC purchased a new position in shares of Bank of Nova Scotia during the fourth quarter worth $73,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Bank of Nova Scotia during the third quarter worth $111,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Price Performance

BNS traded down $0.09 during midday trading on Friday, reaching $48.01. 2,008,307 shares of the company's stock were exchanged, compared to its average volume of 1,613,775. 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 stock has a market capitalization of $59.80 billion, a PE ratio of 11.11, a P/E/G ratio of 1.16 and a beta of 1.11. The business's 50-day moving average price is $50.15 and its 200 day moving average price is $52.40. The Bank of Nova Scotia has a 1-year low of $43.68 and a 1-year high of $57.07.

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Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 annualized dividend and a dividend yield of 6.18%. Bank of Nova Scotia's dividend payout ratio (DPR) is 82.77%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BNS. Royal Bank of Canada cut their price objective 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. CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Finally, Cibc World Mkts lowered shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target 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.