JARISLOWSKY FRASER Ltd Cuts Holdings in The Bank of Nova Scotia (NYSE:BNS)

JARISLOWSKY FRASER Ltd lessened its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,750,934 shares of the bank's stock after selling 641,313 shares during the quarter. Bank of Nova Scotia makes up approximately 3.7% of JARISLOWSKY FRASER Ltd's portfolio, making the stock its 4th biggest position. JARISLOWSKY FRASER Ltd owned 0.94% of Bank of Nova Scotia worth $628,280,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BNS. Murphy & Mullick Capital Management Corp bought a new position in Bank of Nova Scotia in the fourth quarter worth $25,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Bank of Nova Scotia during the 4th quarter valued at about $31,000. Allworth Financial LP lifted its position in shares of Bank of Nova Scotia by 121.1% during the 4th quarter. Allworth Financial LP now owns 639 shares of the bank's stock valued at $33,000 after buying an additional 350 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of Bank of Nova Scotia during the 4th quarter valued at about $73,000. Finally, Atlas Capital Advisors Inc. purchased a new position in shares of Bank of Nova Scotia during the 4th quarter valued at about $83,000. Hedge funds and other institutional investors own 49.13% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Royal Bank of Canada lowered 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. Bank of America cut Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. Finally, Cibc World Mkts cut Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Bank of Nova Scotia has a consensus rating of "Hold" and an average price target of $81.00.

Bank of Nova Scotia Price Performance

Shares of BNS traded up $0.04 during mid-day trading on Friday, hitting $51.44. 3,481,774 shares of the stock were exchanged, compared to its average volume of 1,703,576. The company has a market cap of $64.08 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. 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 firm has a 50-day moving average of $48.20 and a two-hundred day moving average of $51.16. The Bank of Nova Scotia has a 52-week low of $43.68 and a 52-week high of $57.07.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.7415 per share. This represents a $2.97 annualized dividend and a dividend yield of 5.77%. The ex-dividend date of this dividend 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.