BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 80.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,073,809 shares of the bank's stock after selling 4,406,677 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.09% of Bank of Nova Scotia worth $57,589,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in shares of Bank of Nova Scotia by 7.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,095,285 shares of the bank's stock worth $58,839,000 after purchasing an additional 77,820 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in Bank of Nova Scotia during the fourth quarter worth approximately $292,000. Blue Trust Inc. grew its position in Bank of Nova Scotia by 98.6% in the fourth quarter. Blue Trust Inc. now owns 3,134 shares of the bank's stock worth $171,000 after buying an additional 1,556 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of Bank of Nova Scotia by 11.8% in the fourth quarter. HighTower Advisors LLC now owns 11,438 shares of the bank's stock valued at $614,000 after buying an additional 1,207 shares in the last quarter. Finally, Orca Wealth Management LLC bought a new position in shares of Bank of Nova Scotia in the fourth quarter valued at $888,000. 49.13% of the stock is currently owned by institutional investors.
Bank of Nova Scotia Stock Up 1.1%
NYSE:BNS traded up $0.58 during trading hours on Monday, hitting $52.20. 1,542,642 shares of the stock traded hands, compared to its average volume of 1,708,598. The firm has a 50 day moving average price of $48.65 and a 200 day moving average price of $51.09. The firm has a market cap of $65.02 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a fifty-two week low of $43.68 and a fifty-two week high of $57.07. 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 declared a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Tuesday, April 1st were given a dividend of $0.7415 per share. This represents a $2.97 annualized dividend and a yield of 5.68%. The ex-dividend date was Tuesday, April 1st. Bank of Nova Scotia's payout ratio is 83.05%.
Wall Street Analyst Weigh In
BNS has been the topic of a number of recent research reports. CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Royal Bank of Canada decreased their price target on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. Bank of America downgraded Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report 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 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 MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $81.00.
Read Our Latest Analysis on Bank of Nova Scotia
Bank of Nova Scotia Company Profile
(
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.
Featured Stories
Before you consider Bank of Nova Scotia, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of Nova Scotia wasn't on the list.
While Bank of Nova Scotia currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
