Ossiam Lowers Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

Ossiam lessened its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 44.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 88,239 shares of the bank’s stock after selling 70,982 shares during the period. Ossiam’s holdings in Bank of Nova Scotia were worth $4,736,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Magnus Financial Group LLC grew its position in shares of Bank of Nova Scotia by 4.1% during the fourth quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank’s stock worth $274,000 after purchasing an additional 200 shares in the last quarter. Private Advisor Group LLC grew its holdings in Bank of Nova Scotia by 3.5% during the 4th quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock valued at $336,000 after buying an additional 211 shares in the last quarter. Moran Wealth Management LLC lifted its holdings in shares of Bank of Nova Scotia by 6.5% in the fourth quarter. Moran Wealth Management LLC now owns 3,925 shares of the bank’s stock worth $211,000 after buying an additional 240 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of Bank of Nova Scotia by 10.2% during the fourth quarter. Lindbrook Capital LLC now owns 2,860 shares of the bank’s stock worth $154,000 after acquiring an additional 264 shares during the last quarter. Finally, Merit Financial Group LLC grew its stake in Bank of Nova Scotia by 5.8% during the fourth quarter. Merit Financial Group LLC now owns 4,905 shares of the bank’s stock valued at $264,000 after acquiring an additional 271 shares in the last quarter. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Trading Up 0.7 %

Shares of BNS stock opened at $47.46 on Friday. The company has a market cap of $59.11 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. The Bank of Nova Scotia has a 1 year low of $43.68 and a 1 year high of $57.07. The stock’s 50 day simple moving average is $48.28 and its two-hundred day simple moving average is $51.53. 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 business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.7415 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 annualized dividend and a yield of 6.25%. Bank of Nova Scotia’s payout ratio is presently 83.05%.

Analysts Set New Price Targets

Several research firms have commented on BNS. Bank of America downgraded shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a report on Monday, March 31st. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Cibc World Mkts cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, Royal Bank of Canada lowered their target price on Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $81.00.

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.