The Bank of Nova Scotia (NYSE:BNS) Stake Reduced by Amundi

Amundi reduced its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,222,393 shares of the bank’s stock after selling 101,908 shares during the quarter. Amundi owned about 0.34% of Bank of Nova Scotia worth $226,827,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in BNS. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Bank of Nova Scotia during the 4th quarter worth $31,000. Allworth Financial LP boosted its position in Bank of Nova Scotia by 121.1% during the 4th quarter. Allworth Financial LP now owns 639 shares of the bank’s stock worth $33,000 after acquiring an additional 350 shares during the period. BNP Paribas Financial Markets boosted its position in Bank of Nova Scotia by 1,588.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock worth $47,000 after acquiring an additional 810 shares during the period. Fortitude Family Office LLC acquired a new position in Bank of Nova Scotia during the 4th quarter worth $73,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Bank of Nova Scotia in the third quarter valued at $111,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BNS shares. Royal Bank of Canada cut their price objective on 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. Barclays upgraded Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Cibc World Mkts lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $75.50.

Bank of Nova Scotia Stock Up 0.4 %

NYSE:BNS opened at $48.33 on Monday. The firm has a market capitalization of $60.19 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a 1-year low of $43.67 and a 1-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 business’s fifty day moving average price is $51.13 and its 200 day moving average price is $52.52.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. This represents a $2.97 annualized dividend and a yield of 6.14%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia’s payout ratio 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.