Generali Asset Management SPA SGR Takes Position in The Bank of Nova Scotia (NYSE:BNS)

Generali Asset Management SPA SGR purchased a new stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 201,326 shares of the bank’s stock, valued at approximately $10,815,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Bank of Nova Scotia in the fourth quarter worth about $31,000. Allworth Financial LP lifted its position 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 position 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 about $73,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Bank of Nova Scotia during the 3rd quarter valued at about $111,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Stock Up 1.7 %

NYSE BNS opened at $48.76 on Tuesday. The stock has a 50 day moving average price of $50.43 and a 200-day moving average price of $52.48. 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 market capitalization of $60.73 billion, a P/E ratio of 11.29, 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 quick ratio of 1.03 and a current ratio of 1.03.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be paid a $0.7415 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.08%. Bank of Nova Scotia’s payout ratio is currently 82.77%.

Analyst Upgrades and Downgrades

BNS has been the topic of a number of analyst reports. Barclays raised Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 21st. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. Cibc World Mkts cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, UBS Group raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $75.50.

Bank of Nova Scotia Company 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.