Focus Partners Wealth Purchases New Shares in The Bank of Nova Scotia (NYSE:BNS)

Focus Partners Wealth acquired a new stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,482 shares of the bank's stock, valued at approximately $348,000.

Other large investors have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new position in Bank of Nova Scotia in the 4th quarter valued at $25,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Bank of Nova Scotia in the 4th quarter valued at $31,000. Allworth Financial LP raised its holdings in Bank of Nova Scotia by 121.1% in the 4th quarter. Allworth Financial LP now owns 639 shares of the bank's stock valued at $33,000 after acquiring an additional 350 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new position in Bank of Nova Scotia in the 4th quarter valued at $83,000. Finally, Dunhill Financial LLC acquired a new position in Bank of Nova Scotia in the 4th quarter valued at $95,000. Institutional investors and hedge funds own 49.13% of the company's stock.

Bank of Nova Scotia Stock Up 1.1%

Bank of Nova Scotia stock traded up $0.58 during midday trading on Friday, hitting $52.20. The stock had a trading volume of 1,542,642 shares, compared to its average volume of 1,708,598. 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 cap of $65.02 billion, a P/E ratio of 12.08, a P/E/G ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a 12 month low of $43.68 and a 12 month high of $57.07. The business has a fifty day moving average price of $48.65 and a 200 day moving average price of $51.12.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st were paid a $0.7415 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 5.68%. Bank of Nova Scotia's payout ratio is currently 83.05%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Bank of America downgraded Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. Royal Bank of Canada decreased their target price 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 report on Wednesday, February 26th. Cibc World Mkts cut shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Finally, CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average 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.