Scotia Capital Inc. reduced its holdings in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,024,260 shares of the bank's stock after selling 252,981 shares during the quarter. Bank of Nova Scotia makes up 4.0% of Scotia Capital Inc.'s investment portfolio, making the stock its 4th largest position. Scotia Capital Inc. owned approximately 1.13% of Bank of Nova Scotia worth $752,582,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BNS. BNP Paribas Financial Markets raised its position in shares of Bank of Nova Scotia by 1,588.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank's stock worth $47,000 after purchasing an additional 810 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of Bank of Nova Scotia in the third quarter worth $258,000. Stifel Financial Corp lifted its position in shares of Bank of Nova Scotia by 14.2% in the third quarter. Stifel Financial Corp now owns 64,054 shares of the bank's stock valued at $3,490,000 after acquiring an additional 7,970 shares in the last quarter. State Street Corp boosted its stake in shares of Bank of Nova Scotia by 1.4% during the third quarter. State Street Corp now owns 124,030 shares of the bank's stock valued at $6,758,000 after acquiring an additional 1,690 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its position in Bank of Nova Scotia by 20.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 5,821 shares of the bank's stock worth $317,000 after purchasing an additional 979 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the stock. CIBC reaffirmed a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Cibc World Mkts lowered shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Bank of America cut shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. Finally, 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 on the stock in a research note on Wednesday, February 26th. One 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $81.00.
Check Out Our Latest Report on Bank of Nova Scotia
Bank of Nova Scotia Trading Down 0.1 %
BNS stock traded down $0.03 on Tuesday, hitting $46.84. 520,214 shares of the company were exchanged, compared to its average volume of 1,678,001. The stock has a market capitalization of $58.34 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. The business's fifty day moving average is $48.57 and its two-hundred day moving average is $51.70. 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.
Bank of Nova Scotia Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be given a $0.7415 dividend. This represents a $2.97 annualized dividend and a dividend yield of 6.33%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio (DPR) is currently 83.05%.
Bank of Nova Scotia Profile
(
Free Report)
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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