O Shaughnessy Asset Management LLC Increases Holdings in The Bank of Nova Scotia (NYSE:BNS)

O Shaughnessy Asset Management LLC lifted its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 222,516 shares of the bank’s stock after acquiring an additional 5,656 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Bank of Nova Scotia were worth $11,937,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BNS. BNP Paribas Financial Markets raised its position 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 valued at $47,000 after buying an additional 810 shares during the last quarter. Captrust Financial Advisors grew its stake in Bank of Nova Scotia by 2.5% during the third quarter. Captrust Financial Advisors now owns 22,329 shares of the bank’s stock valued at $1,217,000 after acquiring an additional 536 shares in the last quarter. Verition Fund Management LLC bought a new stake in Bank of Nova Scotia in the 3rd quarter valued at $258,000. Janus Henderson Group PLC lifted its stake in Bank of Nova Scotia by 7.9% in the 3rd quarter. Janus Henderson Group PLC now owns 153,849 shares of the bank’s stock worth $8,390,000 after purchasing an additional 11,300 shares in the last quarter. Finally, Murchinson Ltd. bought a new position in shares of Bank of Nova Scotia during the 3rd quarter valued at about $249,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Cibc World Mkts cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Royal Bank of Canada cut their target price 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. Finally, Bank of America downgraded shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $81.00.

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock opened at $47.44 on Tuesday. The stock has a 50 day moving average price of $49.80 and a 200-day moving average price of $52.30. The Bank of Nova Scotia has a one year low of $43.68 and a one year high of $57.07. The stock has a market cap of $59.08 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. This represents a $2.97 dividend on an annualized basis and a yield of 6.25%. 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.