Forsta AP Fonden Has $17.76 Million Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

Forsta AP Fonden cut its position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 330,900 shares of the bank's stock after selling 21,800 shares during the period. Forsta AP Fonden's holdings in Bank of Nova Scotia were worth $17,760,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BNS. BNP Paribas Financial Markets boosted its stake in 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 worth $47,000 after purchasing an additional 810 shares during the period. City State Bank acquired a new position in shares of Bank of Nova Scotia during the third quarter worth about $57,000. Fortitude Family Office LLC bought a new position in shares of Bank of Nova Scotia during the fourth quarter worth about $73,000. Blue Trust Inc. boosted its position in Bank of Nova Scotia by 171.6% during the 3rd quarter. Blue Trust Inc. now owns 1,578 shares of the bank's stock worth $86,000 after acquiring an additional 997 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Bank of Nova Scotia during the 3rd quarter worth approximately $111,000. 49.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BNS shares. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. UBS Group upgraded Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a report on Monday, November 18th. Barclays upgraded Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a report on Thursday, November 21st. TD Securities upgraded Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Finally, Canaccord Genuity Group upgraded Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.00.

Bank of Nova Scotia Price Performance

NYSE:BNS traded up $0.28 during mid-day trading on Thursday, reaching $52.21. The stock had a trading volume of 207,345 shares, compared to its average volume of 2,049,916. The stock has a 50-day simple moving average of $53.80 and a two-hundred day simple moving average of $51.73. The stock has a market capitalization of $65.03 billion, a PE ratio of 12.09, a P/E/G ratio of 1.16 and a beta of 1.08. The Bank of Nova Scotia has a 12 month low of $43.67 and a 12 month high of $57.07. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th were paid a $0.7535 dividend. This represents a $3.01 annualized dividend and a yield of 5.77%. The ex-dividend date was Tuesday, January 7th. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 68.06%.

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.