OMERS ADMINISTRATION Corp Reduces Stock Position in The Bank of Nova Scotia (NYSE:BNS)

OMERS ADMINISTRATION Corp cut its position in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 458,933 shares of the bank's stock after selling 15,867 shares during the period. OMERS ADMINISTRATION Corp's holdings in Bank of Nova Scotia were worth $24,632,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Laird Norton Wetherby Wealth Management LLC raised its position in Bank of Nova Scotia by 2.0% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 35,237 shares of the bank's stock valued at $1,893,000 after purchasing an additional 706 shares in the last quarter. Focus Partners Wealth bought a new stake in Bank of Nova Scotia during the 4th quarter valued at $348,000. Ewing Morris & Co. Investment Partners Ltd. bought a new stake in Bank of Nova Scotia during the 4th quarter valued at $1,185,000. Fairfax Financial Holdings Ltd. Can raised its position in Bank of Nova Scotia by 24.2% during the 4th quarter. Fairfax Financial Holdings Ltd. Can now owns 359,100 shares of the bank's stock valued at $19,272,000 after purchasing an additional 70,000 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Bank of Nova Scotia by 8.6% during the 4th quarter. Deutsche Bank AG now owns 1,718,907 shares of the bank's stock valued at $92,340,000 after purchasing an additional 136,275 shares in the last quarter. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Stock Up 0.1%

BNS stock traded up $0.04 on Friday, hitting $51.44. 3,481,776 shares of the company's stock were exchanged, compared to its average volume of 1,709,426. The Bank of Nova Scotia has a 12-month low of $43.68 and a 12-month high of $57.07. The firm has a 50 day moving average price of $48.27 and a two-hundred day moving average price of $51.14. 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 cap of $64.08 billion, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Tuesday, April 1st were paid a dividend of $0.7415 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.97 annualized dividend and a yield of 5.77%. Bank of Nova Scotia's dividend payout ratio (DPR) is 83.05%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia 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 reduced 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. Finally, 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $81.00.

About Bank of Nova Scotia

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.