Assenagon Asset Management S.A. Sells 1,741 Shares of The Bank of Nova Scotia (NYSE:BNS)

Assenagon Asset Management S.A. cut its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,121 shares of the bank’s stock after selling 1,741 shares during the period. Assenagon Asset Management S.A.’s holdings in Bank of Nova Scotia were worth $4,837,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BNS. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Bank of Nova Scotia by 260.1% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank’s stock worth $298,575,000 after purchasing an additional 3,958,580 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in Bank of Nova Scotia by 5,380.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank’s stock worth $216,447,000 after acquiring an additional 3,899,760 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Bank of Nova Scotia by 24.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank’s stock valued at $640,624,000 after buying an additional 2,346,995 shares in the last quarter. Toronto Dominion Bank lifted its stake in Bank of Nova Scotia by 9.6% in the third quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank’s stock valued at $1,361,752,000 after buying an additional 2,195,604 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Bank of Nova Scotia by 4.7% in the second quarter. Mackenzie Financial Corp now owns 15,091,880 shares of the bank’s stock valued at $690,438,000 after purchasing an additional 683,946 shares during the last quarter. 49.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

BNS has been the topic of a number of recent analyst reports. UBS Group upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Monday, November 18th. Royal Bank of Canada upped their price objective on shares of Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Bank of Nova Scotia currently has an average rating of “Moderate Buy” and an average price target of $72.00.

Bank of Nova Scotia Stock Down 1.6 %

Bank of Nova Scotia stock opened at $50.86 on Tuesday. The firm has a 50 day moving average price of $54.26 and a two-hundred day moving average price of $51.45. The firm has a market cap of $63.34 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.16 and a beta of 1.08. 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 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 Wednesday, January 29th. Stockholders of record on Tuesday, January 7th will be paid a $0.7535 dividend. The ex-dividend date is Tuesday, January 7th. This represents a $3.01 annualized dividend and a dividend yield of 5.93%. Bank of Nova Scotia’s dividend payout ratio is currently 68.29%.

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.