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

Generali Asset Management SPA SGR purchased a new position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 201,326 shares of the bank’s stock, valued at approximately $10,815,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Signaturefd LLC grew its position in Bank of Nova Scotia by 12.1% in the fourth quarter. Signaturefd LLC now owns 20,702 shares of the bank’s stock worth $1,112,000 after acquiring an additional 2,232 shares in the last quarter. Gold Investment Management Ltd. grew its position in Bank of Nova Scotia by 2.1% in the fourth quarter. Gold Investment Management Ltd. now owns 132,028 shares of the bank’s stock worth $7,088,000 after acquiring an additional 2,693 shares in the last quarter. Ninepoint Partners LP purchased a new position in shares of Bank of Nova Scotia during the fourth quarter valued at approximately $2,974,000. Natixis Advisors LLC boosted its position in shares of Bank of Nova Scotia by 79.9% during the fourth quarter. Natixis Advisors LLC now owns 92,201 shares of the bank’s stock valued at $4,953,000 after buying an additional 40,961 shares during the period. Finally, First National Trust Co boosted its position in shares of Bank of Nova Scotia by 208.4% during the fourth quarter. First National Trust Co now owns 28,739 shares of the bank’s stock valued at $1,544,000 after buying an additional 19,421 shares during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

Shares of BNS opened at $48.76 on Tuesday. The firm has a market capitalization of $60.73 billion, a PE ratio of 11.29, 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 current ratio of 1.03 and a quick ratio of 1.03. The Bank of Nova Scotia has a 1-year low of $43.68 and a 1-year high of $57.07. The company’s fifty day moving average price is $50.43 and its 200-day moving average price is $52.48.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. This represents a $2.97 annualized dividend and a yield of 6.08%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia’s payout ratio is 82.77%.

Wall Street Analyst Weigh In

BNS has been the subject of several recent analyst reports. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Royal Bank of Canada reduced 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 research note on Wednesday, February 26th. Barclays raised Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 21st. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.50.

Bank of Nova Scotia Company Profile

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.