The Bank of Nova Scotia (NYSE:BNS) Shares Sold by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. lessened its stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,217,857 shares of the bank's stock after selling 16,870 shares during the period. Burgundy Asset Management Ltd. owned about 0.10% of Bank of Nova Scotia worth $65,333,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BNS. Norges Bank purchased a new stake in Bank of Nova Scotia in the 4th quarter worth approximately $690,746,000. Zurich Insurance Group Ltd FI purchased a new stake in Bank of Nova Scotia in the 4th quarter worth approximately $96,529,000. Geode Capital Management LLC lifted its position in shares of Bank of Nova Scotia by 31.8% during the 4th quarter. Geode Capital Management LLC now owns 7,433,171 shares of the bank's stock valued at $406,103,000 after buying an additional 1,792,700 shares in the last quarter. Vanguard Group Inc. lifted 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 buying an additional 969,488 shares in the last quarter. Finally, FIL Ltd lifted its position in shares of 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 buying an additional 708,999 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Price Performance

NYSE BNS traded up $0.52 during mid-day trading on Tuesday, hitting $52.71. The stock had a trading volume of 2,065,577 shares, compared to its average volume of 1,710,026. The firm's 50 day moving average is $48.73 and its 200 day moving average is $51.08. The Bank of Nova Scotia has a twelve month low of $43.68 and a twelve month high of $57.07. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $65.65 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 1.16 and a beta of 1.11.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Tuesday, April 1st were paid a $0.7415 dividend. This represents a $2.97 annualized dividend and a yield of 5.63%. The ex-dividend date of this dividend was Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio is currently 83.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BNS shares. Cibc World Mkts lowered Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Bank of America lowered Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. Royal Bank of Canada decreased 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 research report on Wednesday, February 26th. Finally, CIBC reiterated a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. One 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. According to data from MarketBeat, the stock has an average rating of "Hold" and an average 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.