Natixis Grows Stake in The Bank of Nova Scotia (NYSE:BNS)

Natixis grew its holdings in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 33.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 184,492 shares of the bank's stock after purchasing an additional 46,723 shares during the period. Natixis' holdings in Bank of Nova Scotia were worth $9,911,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Galibier Capital Management Ltd. lifted its position in Bank of Nova Scotia by 38,283.3% in the fourth quarter. Galibier Capital Management Ltd. now owns 476,721 shares of the bank's stock valued at $25,586,000 after buying an additional 475,479 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Bank of Nova Scotia by 7.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,095,285 shares of the bank's stock worth $58,839,000 after purchasing an additional 77,820 shares during the period. Mediolanum International Funds Ltd acquired a new stake in Bank of Nova Scotia in the 4th quarter valued at approximately $292,000. Blue Trust Inc. raised its position in Bank of Nova Scotia by 98.6% in the fourth quarter. Blue Trust Inc. now owns 3,134 shares of the bank's stock valued at $171,000 after purchasing an additional 1,556 shares during the period. Finally, HighTower Advisors LLC lifted its stake in Bank of Nova Scotia by 11.8% during the fourth quarter. HighTower Advisors LLC now owns 11,438 shares of the bank's stock worth $614,000 after purchasing an additional 1,207 shares in the last quarter. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Stock Up 0.5 %

Shares of Bank of Nova Scotia stock traded up $0.24 on Friday, reaching $48.80. 1,933,957 shares of the company were exchanged, compared to its average volume of 1,693,592. The stock's 50 day moving average price is $48.00 and its 200-day moving average price is $51.38. The company has a market cap of $60.78 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. The Bank of Nova Scotia has a 1-year low of $43.68 and a 1-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.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.08%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio is presently 83.05%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BNS. Bank of America downgraded Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. Royal Bank of Canada cut 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, February 26th. CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Finally, Cibc World Mkts downgraded shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target 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.