Syon Capital LLC Takes Position in The Bank of Nova Scotia (NYSE:BNS)

Syon Capital LLC purchased a new position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,842 shares of the bank’s stock, valued at approximately $260,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Bank of Nova Scotia during the fourth quarter worth about $25,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Bank of Nova Scotia during the 4th quarter worth approximately $31,000. Allworth Financial LP raised its position 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 purchasing an additional 350 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of Bank of Nova Scotia during the 4th quarter valued at approximately $73,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of Bank of Nova Scotia during the fourth quarter worth approximately $83,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Wall Street Analyst Weigh In

BNS has been the topic of several recent analyst reports. 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 report on Wednesday, February 26th. 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. CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Finally, Bank of America downgraded Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $81.00.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $48.80 on Friday. The company has a market cap of $60.78 billion, a P/E ratio of 11.30, a PEG ratio of 1.16 and a beta of 1.02. The business has a 50 day moving average of $48.00 and a two-hundred day moving average of $51.38. The Bank of Nova Scotia has a 52 week low of $43.68 and a 52 week high of $57.07. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.7415 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 6.08%. Bank of Nova Scotia’s payout ratio is currently 83.05%.

About Bank of Nova Scotia

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.