Transamerica Financial Advisors Inc. Has $271,000 Stake in The Bank of Nova Scotia (NYSE:BNS)

Transamerica Financial Advisors Inc. reduced its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 8.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,034 shares of the bank’s stock after selling 472 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Bank of Nova Scotia were worth $271,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new stake in Bank of Nova Scotia during the fourth quarter worth approximately $25,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Bank of Nova Scotia during the 4th quarter worth approximately $31,000. Allworth Financial LP increased its stake in shares of 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 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 acquiring an additional 810 shares during the period. Finally, Fortitude Family Office LLC acquired a new position in shares of Bank of Nova Scotia during the 4th quarter valued at $73,000. 49.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BNS shares. CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Royal Bank of Canada decreased their target price on Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Finally, Cibc World Mkts downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $81.00.

Bank of Nova Scotia Price Performance

BNS stock opened at $47.74 on Friday. The company has a market capitalization of $59.46 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a 52-week low of $43.68 and a 52-week high of $57.07. The business has a 50-day simple moving average of $49.87 and a two-hundred day simple moving average of $52.33. 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 company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 annualized dividend and a dividend yield of 6.21%. Bank of Nova Scotia’s dividend payout ratio is currently 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.