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

Candriam S.C.A. trimmed its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 27.1% in the fourth quarter, HoldingsChannel.com reports. 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 & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BNS. Magnus Financial Group LLC raised its stake in Bank of Nova Scotia by 4.1% in the 4th quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank’s stock valued at $274,000 after acquiring an additional 200 shares during the period. Sigma Planning Corp increased its holdings in shares of Bank of Nova Scotia by 1.9% in the third quarter. Sigma Planning Corp now owns 11,089 shares of the bank’s stock valued at $604,000 after purchasing an additional 210 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Bank of Nova Scotia by 3.5% in the fourth quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock valued at $336,000 after purchasing an additional 211 shares during the period. Addison Advisors LLC lifted its stake in shares of Bank of Nova Scotia by 7.3% during the 3rd quarter. Addison Advisors LLC now owns 3,357 shares of the bank’s stock worth $183,000 after buying an additional 227 shares during the last quarter. Finally, Lindbrook Capital LLC boosted 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 worth $154,000 after buying an additional 264 shares during the period. 49.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on BNS. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Cibc World Mkts lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Royal Bank of Canada dropped 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 report on Wednesday, February 26th. Finally, UBS Group upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $75.50.

Bank of Nova Scotia Price Performance

Shares of NYSE BNS opened at $48.33 on Monday. The business has a fifty day moving average price of $51.13 and a two-hundred day moving average price of $52.52. The stock has a market capitalization of $60.19 billion, a PE ratio of 11.19, a P/E/G 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 fifty-two week low of $43.67 and a fifty-two week high of $57.07.

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 paid a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a yield of 6.14%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 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.