The Bank of Nova Scotia (NYSE:BNS) Shares Bought by Forum Financial Management LP

Forum Financial Management LP grew its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 50.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,483 shares of the bank’s stock after buying an additional 5,180 shares during the quarter. Forum Financial Management LP’s holdings in Bank of Nova Scotia were worth $832,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp purchased a new stake in Bank of Nova Scotia in the 4th quarter worth $25,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Bank of Nova Scotia in the fourth quarter valued at about $31,000. Allworth Financial LP increased its stake in shares of Bank of Nova Scotia by 121.1% during the fourth quarter. Allworth Financial LP now owns 639 shares of the bank’s stock worth $33,000 after purchasing an additional 350 shares in the last quarter. Fortitude Family Office LLC acquired a new position in shares of Bank of Nova Scotia during the 4th quarter worth about $73,000. Finally, Atlas Capital Advisors Inc. purchased a new position in Bank of Nova Scotia in the 4th quarter valued at about $83,000. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Up 0.7 %

Shares of NYSE:BNS opened at $47.46 on Friday. The Bank of Nova Scotia has a 52-week low of $43.68 and a 52-week high of $57.07. The stock has a market cap of $59.11 billion, a P/E ratio of 10.99, a PEG ratio of 1.16 and a beta of 1.02. The business has a fifty day moving average of $48.28 and a two-hundred day moving average of $51.53. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed 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 6.25%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s payout ratio is currently 83.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BNS shares. Cibc World Mkts cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Bank of America downgraded Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research note on Monday, March 31st. CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada reduced 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 research report on Wednesday, February 26th. One 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $81.00.

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.