Atomi Financial Group Inc. Buys 2,439 Shares of The Bank of Nova Scotia (NYSE:BNS)

Atomi Financial Group Inc. increased its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 28.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,065 shares of the bank’s stock after purchasing an additional 2,439 shares during the quarter. Atomi Financial Group Inc.’s holdings in Bank of Nova Scotia were worth $594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Addenda Capital Inc. lifted its holdings in shares of Bank of Nova Scotia by 4.0% during the fourth quarter. Addenda Capital Inc. now owns 1,175,246 shares of the bank’s stock valued at $63,134,000 after purchasing an additional 44,692 shares in the last quarter. Galibier Capital Management Ltd. lifted its holdings in shares of Bank of Nova Scotia by 38,283.3% during the fourth 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 in the last quarter. Merit Financial Group LLC lifted its holdings in shares of Bank of Nova Scotia by 5.8% during the fourth quarter. Merit Financial Group LLC now owns 4,905 shares of the bank’s stock valued at $264,000 after purchasing an additional 271 shares in the last quarter. Avanza Fonder AB bought a new position in shares of Bank of Nova Scotia during the fourth quarter valued at $4,394,000. Finally, Ritholtz Wealth Management lifted its holdings in shares of Bank of Nova Scotia by 55.2% during the fourth quarter. Ritholtz Wealth Management now owns 9,451 shares of the bank’s stock valued at $508,000 after purchasing an additional 3,360 shares in the last quarter. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Stock Performance

Shares of BNS opened at $51.69 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The business has a 50-day simple moving average of $54.11 and a two-hundred day simple moving average of $51.53. The stock has a market cap of $64.38 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 1.17 and a beta of 1.08. The Bank of Nova Scotia has a 52 week low of $43.67 and a 52 week high of $57.07.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th will be given a $0.7535 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date of this dividend is Tuesday, January 7th. Bank of Nova Scotia’s payout ratio is 68.29%.

Analysts Set New Price Targets

BNS has been the topic of a number of research analyst reports. TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. UBS Group raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Monday, November 18th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Barclays raised Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.