Dimensional Fund Advisors LP Cuts Holdings in The Bank of Nova Scotia (NYSE:BNS)

Dimensional Fund Advisors LP cut its holdings in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,149,870 shares of the bank's stock after selling 82,001 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.41% of Bank of Nova Scotia worth $276,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of BNS. Norges Bank bought a new stake in shares of Bank of Nova Scotia in the fourth quarter worth about $690,746,000. Geode Capital Management LLC grew its stake in shares of Bank of Nova Scotia by 31.8% in the fourth quarter. Geode Capital Management LLC now owns 7,433,171 shares of the bank's stock worth $406,103,000 after purchasing an additional 1,792,700 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Bank of Nova Scotia by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank's stock worth $2,758,150,000 after purchasing an additional 969,488 shares during the last quarter. FIL Ltd boosted its position in Bank of Nova Scotia by 37.8% during the 4th quarter. FIL Ltd now owns 2,582,696 shares of the bank's stock valued at $138,689,000 after acquiring an additional 708,999 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its position in Bank of Nova Scotia by 370.0% during the 4th quarter. Hillsdale Investment Management Inc. now owns 883,511 shares of the bank's stock valued at $47,391,000 after acquiring an additional 695,519 shares in the last quarter. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Stock Up 0.5 %

Shares of Bank of Nova Scotia stock traded up $0.24 during midday trading on Friday, hitting $48.80. The company had a trading volume of 1,933,957 shares, compared to its average volume of 1,695,794. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $60.78 billion, a P/E ratio of 11.30, a P/E/G ratio of 1.16 and a beta of 1.02. The company has a 50 day moving average of $48.00 and a 200 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.

Bank of Nova Scotia Cuts Dividend

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

Analysts Set New Price Targets

Several analysts have weighed in on BNS shares. Royal Bank of Canada cut their price objective on 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. 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. Bank of America cut Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. Finally, CIBC reaffirmed a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $81.00.

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.