Shell Asset Management Co. Has $2.26 Million Holdings in The Bank of Nova Scotia (NYSE:BNS)

Shell Asset Management Co. raised its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,017 shares of the bank’s stock after buying an additional 1,700 shares during the period. Shell Asset Management Co.’s holdings in Bank of Nova Scotia were worth $2,255,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Magnus Financial Group LLC increased its position in shares of 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 buying an additional 200 shares in the last quarter. Private Advisor Group LLC boosted its stake in Bank of Nova Scotia by 3.5% in the 4th quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock worth $336,000 after purchasing an additional 211 shares during the period. Moran Wealth Management LLC boosted its stake in Bank of Nova Scotia by 6.5% in the 4th quarter. Moran Wealth Management LLC now owns 3,925 shares of the bank’s stock worth $211,000 after purchasing an additional 240 shares during the period. Tower Research Capital LLC TRC boosted its stake in Bank of Nova Scotia by 4.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,399 shares of the bank’s stock worth $290,000 after purchasing an additional 248 shares during the period. Finally, Lindbrook Capital LLC boosted its stake in Bank of Nova Scotia by 10.2% in the 4th quarter. Lindbrook Capital LLC now owns 2,860 shares of the bank’s stock worth $154,000 after purchasing an additional 264 shares during the period. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Trading Up 0.1%

Bank of Nova Scotia stock opened at $51.44 on Friday. The firm has a 50-day moving average of $48.27 and a 200-day moving average of $51.15. The Bank of Nova Scotia has a one year low of $43.68 and a one year high of $57.07. 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 company has a market cap of $64.08 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 1.16 and a beta of 1.11.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.7415 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a dividend yield of 5.77%. Bank of Nova Scotia’s dividend payout ratio is 83.05%.

Analyst Ratings Changes

A number of brokerages recently weighed in on BNS. 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 note on Wednesday, February 26th. Bank of America lowered shares of 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, Cibc World Mkts lowered shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. 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. According to data from MarketBeat, the stock has an average 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.