Asahi Life Asset Management CO. LTD. Takes $373,000 Position in The Bank of Nova Scotia (NYSE:BNS)

Asahi Life Asset Management CO. LTD. acquired a new stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 6,950 shares of the bank’s stock, valued at approximately $373,000.

A number of other hedge funds have also recently modified their holdings of the business. Allworth Financial LP lifted its stake in shares of Bank of Nova Scotia by 121.1% during the 4th quarter. Allworth Financial LP now owns 639 shares of the bank’s stock valued at $33,000 after buying an additional 350 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Bank of Nova Scotia by 1,588.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock valued at $47,000 after buying an additional 810 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of Bank of Nova Scotia during the 4th quarter valued at $73,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Bank of Nova Scotia during the 3rd quarter valued at $111,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Bank of Nova Scotia by 11.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,713 shares of the bank’s stock valued at $148,000 after buying an additional 288 shares in the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Down 0.2 %

Shares of NYSE BNS opened at $49.61 on Friday. The firm’s 50-day moving average price is $51.64 and its 200-day moving average price is $52.43. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $61.79 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 1.16 and a beta of 1.07. The Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month high of $57.07.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders 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 dividend yield of 5.98%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio is 82.20%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BNS shares. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Barclays upgraded shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. Cibc World Mkts cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. 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. Finally, Royal Bank of Canada decreased their price target on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $75.50.

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.