Magnus Financial Group LLC Purchases 200 Shares of The Bank of Nova Scotia (NYSE:BNS)

Magnus Financial Group LLC boosted its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,100 shares of the bank’s stock after buying an additional 200 shares during the quarter. Magnus Financial Group LLC’s holdings in Bank of Nova Scotia were worth $274,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Atomi Financial Group Inc. boosted its holdings in Bank of Nova Scotia by 28.3% during the fourth quarter. Atomi Financial Group Inc. now owns 11,065 shares of the bank’s stock valued at $594,000 after acquiring an additional 2,439 shares during the period. Addenda Capital Inc. lifted its position in shares of Bank of Nova Scotia by 4.0% during the 4th quarter. Addenda Capital Inc. now owns 1,175,246 shares of the bank’s stock worth $63,134,000 after purchasing an additional 44,692 shares during the last quarter. Galibier Capital Management Ltd. boosted its stake in Bank of Nova Scotia by 38,283.3% during the 4th quarter. Galibier Capital Management Ltd. now owns 476,721 shares of the bank’s stock valued at $25,586,000 after purchasing an additional 475,479 shares during the period. Merit Financial Group LLC grew its holdings in Bank of Nova Scotia by 5.8% in the 4th quarter. Merit Financial Group LLC now owns 4,905 shares of the bank’s stock valued at $264,000 after buying an additional 271 shares during the last quarter. Finally, Avanza Fonder AB bought a new position in Bank of Nova Scotia in the 4th quarter worth approximately $4,394,000. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Down 0.7 %

Shares of BNS stock opened at $51.45 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a fifty day moving average of $54.15 and a 200-day moving average of $51.54. The Bank of Nova Scotia has a 52-week low of $43.67 and a 52-week high of $57.07. The stock has a market cap of $64.08 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 1.15 and a beta of 1.08.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.7535 per share. This represents a $3.01 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date of this dividend is Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio is 68.29%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 4th. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. UBS Group upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Monday, November 18th. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.00.

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.