Pictet Asset Management Holding SA Has $36.74 Million Stake in The Bank of Nova Scotia (NYSE:BNS)

Pictet Asset Management Holding SA grew its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 18.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 684,568 shares of the bank’s stock after purchasing an additional 106,031 shares during the period. Pictet Asset Management Holding SA owned approximately 0.05% of Bank of Nova Scotia worth $36,741,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in Bank of Nova Scotia by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank’s stock valued at $310,817,000 after acquiring an additional 524,496 shares in the last quarter. Galibier Capital Management Ltd. lifted its position 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 worth $25,586,000 after buying an additional 475,479 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Bank of Nova Scotia by 7.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,095,285 shares of the bank’s stock valued at $58,839,000 after acquiring an additional 77,820 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Bank of Nova Scotia during the 4th quarter worth approximately $292,000. Finally, Blue Trust Inc. lifted its stake 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 acquiring an additional 1,556 shares during the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank of Canada dropped their price objective on 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 report on Tuesday, February 18th. Finally, Cibc World Mkts downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $81.00.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock opened at $47.74 on Monday. The company has a market capitalization of $59.46 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 1.16 and a beta of 1.11. 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 Bank of Nova Scotia has a 12 month low of $43.68 and a 12 month high of $57.07. The stock’s 50 day moving average is $49.87 and its 200-day moving average is $52.33.

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 issued a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio is 82.77%.

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.