Atlas Capital Advisors Inc. Invests $83,000 in The Bank of Nova Scotia (NYSE:BNS)

Atlas Capital Advisors Inc. purchased a new stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,548 shares of the bank’s stock, valued at approximately $83,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BNS. Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 524,496 shares during the last quarter. Galibier Capital Management Ltd. lifted its holdings 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 period. Bank of New York Mellon Corp boosted its stake in 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 acquired a new stake in Bank of Nova Scotia during the 4th quarter worth $292,000. Finally, Blue Trust Inc. raised its position in shares of Bank of Nova Scotia by 98.6% during the 4th 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 currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Down 3.0 %

NYSE:BNS opened at $46.92 on Friday. The Bank of Nova Scotia has a 1 year low of $43.68 and a 1 year high of $57.07. The stock has a 50-day moving average price of $49.45 and a two-hundred day moving average price of $52.16. The stock has a market cap of $58.44 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 1.16 and a beta of 1.02. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be given a $0.7415 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 annualized dividend and a dividend yield of 6.32%. Bank of Nova Scotia’s dividend payout ratio is presently 82.77%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BNS. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Royal Bank of Canada reduced their target price on 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. Bank of America cut Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research note on Monday, March 31st. Finally, Cibc World Mkts lowered shares of 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, five have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Hold” and an average price target of $81.00.

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.