Candriam S.C.A. Has $1.19 Million Holdings in The Bank of Nova Scotia (NYSE:BNS)

Candriam S.C.A. cut its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 27.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,070 shares of the bank’s stock after selling 8,215 shares during the period. Candriam S.C.A.’s holdings in Bank of Nova Scotia were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BNS. Lindbrook Capital LLC lifted its holdings in shares of Bank of Nova Scotia by 10.2% during the 4th quarter. Lindbrook Capital LLC now owns 2,860 shares of the bank’s stock valued at $154,000 after purchasing an additional 264 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Bank of Nova Scotia during the 4th quarter worth approximately $1,716,000. Aigen Investment Management LP bought a new position in Bank of Nova Scotia in the fourth quarter valued at approximately $1,195,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bank of Nova Scotia by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,820,344 shares of the bank’s stock valued at $205,048,000 after buying an additional 76,282 shares during the period. Finally, Plato Investment Management Ltd boosted its holdings in shares of Bank of Nova Scotia by 406.9% in the fourth quarter. Plato Investment Management Ltd now owns 16,667 shares of the bank’s stock valued at $898,000 after buying an additional 13,379 shares during the period. 49.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BNS shares. Barclays upgraded shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Cibc World Mkts downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. UBS Group raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. 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, four have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Hold” and an average target price of $75.50.

Bank of Nova Scotia Stock Performance

Shares of NYSE BNS opened at $48.33 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50 day moving average price of $51.13 and a 200 day moving average price of $52.52. The stock has a market capitalization of $60.19 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a 52 week low of $43.67 and a 52 week high of $57.07.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. This represents a $2.97 annualized dividend and a dividend yield of 6.14%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia’s payout ratio is presently 82.77%.

Bank of Nova Scotia 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.