UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Holdings in The Bank of Nova Scotia (NYSE:BNS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,536,085 shares of the bank's stock after selling 93,620 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.12% of Bank of Nova Scotia worth $82,518,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC increased its holdings in Bank of Nova Scotia by 27.5% in the third quarter. Barclays PLC now owns 214,957 shares of the bank's stock valued at $11,712,000 after buying an additional 46,421 shares in the last quarter. Merit Financial Group LLC lifted its stake in shares of Bank of Nova Scotia by 5.8% in the 4th quarter. Merit Financial Group LLC now owns 4,905 shares of the bank's stock valued at $264,000 after purchasing an additional 271 shares in the last quarter. Cornerstone Wealth Management LLC boosted its position in Bank of Nova Scotia by 2.0% during the 4th quarter. Cornerstone Wealth Management LLC now owns 20,020 shares of the bank's stock worth $1,075,000 after purchasing an additional 401 shares during the period. Blue Trust Inc. boosted its stake in shares of Bank of Nova Scotia by 98.6% during the 4th quarter. Blue Trust Inc. now owns 3,134 shares of the bank's stock valued at $171,000 after buying an additional 1,556 shares during the last quarter. Finally, Orca Wealth Management LLC acquired a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at about $888,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BNS has been the topic of several recent analyst reports. CIBC reaffirmed a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Cibc World Mkts downgraded shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Royal Bank of Canada dropped 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 report on Wednesday, February 26th. Finally, Bank of America cut Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of "Hold" and a consensus price target of $81.00.

Bank of Nova Scotia Trading Up 0.5%

Shares of NYSE:BNS traded up $0.25 during midday trading on Friday, hitting $53.51. The company had a trading volume of 419,713 shares, compared to its average volume of 1,703,686. The firm has a fifty day simple moving average of $49.00 and a 200 day simple moving average of $51.10. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The stock has a market cap of $66.65 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a 12 month low of $43.68 and a 12 month high of $57.07.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its quarterly earnings data on Tuesday, May 27th. The bank reported $1.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.14 by ($0.08). Bank of Nova Scotia had a return on equity of 11.56% and a net margin of 10.20%. The company had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $8.98 billion. During the same quarter in the prior year, the company earned $1.58 EPS. The company's revenue for the quarter was up 8.8% on a year-over-year basis. On average, analysts predict that The Bank of Nova Scotia will post 4.91 EPS for the current year.

Bank of Nova Scotia Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.7996 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date is Wednesday, July 2nd. This is a boost from Bank of Nova Scotia's previous quarterly dividend of $0.74. Bank of Nova Scotia's dividend payout ratio is 89.44%.

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.