Pictet Asset Management Holding SA Buys 106,031 Shares of The Bank of Nova Scotia (NYSE:BNS)

Pictet Asset Management Holding SA raised its position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 18.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 684,568 shares of the bank's stock after acquiring an additional 106,031 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.05% of Bank of Nova Scotia worth $36,741,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Bank of Nova Scotia during the 4th quarter valued at about $690,746,000. Toronto Dominion Bank grew its position in Bank of Nova Scotia by 9.6% during the third 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 period. Vanguard Group Inc. increased its holdings in Bank of Nova Scotia by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank's stock valued at $2,758,150,000 after buying an additional 969,488 shares during the last quarter. Hillsdale Investment Management Inc. raised its position in Bank of Nova Scotia by 370.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 883,511 shares of the bank's stock worth $47,391,000 after acquiring an additional 695,519 shares during the period. Finally, Guardian Partners Inc. bought a new position in Bank of Nova Scotia in the fourth quarter worth approximately $31,515,000. Institutional investors own 49.13% of the company's stock.

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Wall Street Analysts Forecast Growth

BNS has been the subject of a number of recent research reports. Bank of America downgraded shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday. Cibc World Mkts lowered Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Royal Bank of Canada reduced their price target on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. Finally, CIBC reaffirmed a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $81.00.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock traded down $1.45 during mid-day trading on Friday, hitting $46.92. The stock had a trading volume of 3,802,191 shares, compared to its average volume of 1,672,525. The Bank of Nova Scotia has a one year low of $43.68 and a one year high of $57.07. 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 firm has a market capitalization of $58.44 billion, a P/E ratio of 10.86, a P/E/G ratio of 1.16 and a beta of 1.02. The firm's 50 day moving average is $49.45 and its 200 day moving average is $52.16.

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 paid a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio (DPR) is 82.77%.

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.