Snowden Capital Advisors LLC Reduces Stock Position in The Bank of Nova Scotia (NYSE:BNS)

Snowden Capital Advisors LLC lessened its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 78.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,257 shares of the bank's stock after selling 42,035 shares during the quarter. Snowden Capital Advisors LLC's holdings in Bank of Nova Scotia were worth $605,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new stake in Bank of Nova Scotia in the 4th quarter worth about $25,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Bank of Nova Scotia in the 4th quarter worth about $31,000. Allworth Financial LP boosted its stake in Bank of Nova Scotia by 121.1% in the 4th quarter. Allworth Financial LP now owns 639 shares of the bank's stock worth $33,000 after buying an additional 350 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new stake in Bank of Nova Scotia in the 4th quarter worth about $83,000. Finally, Dunhill Financial LLC acquired a new stake in Bank of Nova Scotia in the 4th quarter worth about $95,000. Hedge funds and other institutional investors own 49.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BNS shares. CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Cibc World Mkts lowered Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note 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 on the stock in a research note on Wednesday, February 26th. Finally, Bank of America lowered Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $81.00.

Bank of Nova Scotia Stock Performance

NYSE BNS opened at $51.63 on Wednesday. The firm has a market capitalization of $64.31 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a 1-year low of $43.68 and a 1-year 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 business's 50-day simple moving average is $48.45 and its 200-day simple moving average is $51.14.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st were paid a $0.7415 dividend. This represents a $2.97 annualized dividend and a dividend yield of 5.75%. The ex-dividend date was Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio is currently 83.05%.

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.

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