Ameriprise Financial Inc. reduced its holdings in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 43.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 279,905 shares of the bank's stock after selling 213,698 shares during the period. Ameriprise Financial Inc.'s holdings in Bank of Nova Scotia were worth $15,682,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Bank of Nova Scotia by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank's stock valued at $2,758,150,000 after acquiring an additional 969,488 shares during the last quarter. TD Asset Management Inc. grew its stake in shares of Bank of Nova Scotia by 1.7% during the 4th quarter. TD Asset Management Inc. now owns 18,966,078 shares of the bank's stock worth $1,017,933,000 after acquiring an additional 308,837 shares in the last quarter. Norges Bank acquired a new position in Bank of Nova Scotia during the fourth quarter worth $690,746,000. CIBC Asset Management Inc lifted its position in Bank of Nova Scotia by 1.8% during the 4th quarter. CIBC Asset Management Inc now owns 10,259,279 shares of the bank's stock worth $551,766,000 after buying an additional 184,761 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Bank of Nova Scotia by 5.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,096,123 shares of the bank's stock valued at $434,196,000 after acquiring an additional 385,333 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.
Bank of Nova Scotia Stock Performance
Shares of NYSE BNS traded down $0.10 during mid-day trading on Thursday, reaching $51.44. 252,552 shares of the company were exchanged, compared to its average volume of 1,703,776. The stock has a market capitalization of $64.07 billion, a P/E ratio of 11.91, a P/E/G ratio of 1.16 and a beta of 1.11. 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 Bank of Nova Scotia has a twelve month low of $43.68 and a twelve month high of $57.07. The company's 50-day simple moving average is $48.52 and its 200-day simple moving average is $51.15.
Bank of Nova Scotia Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.7415 per share. This represents a $2.97 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date of this dividend was Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio is currently 83.05%.
Analyst Ratings Changes
Several research analysts recently commented on BNS shares. Cibc World Mkts cut Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. CIBC reiterated a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Bank of America cut shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. Finally, Royal Bank of Canada dropped 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 research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $81.00.
Read Our Latest Stock Analysis on BNS
About Bank of Nova Scotia
(
Free Report)
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.
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