Letko Brosseau & Associates Inc. Sells 117,462 Shares of The Bank of Nova Scotia (NYSE:BNS)

Letko Brosseau & Associates Inc. trimmed its position in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,127,370 shares of the bank's stock after selling 117,462 shares during the quarter. Bank of Nova Scotia accounts for 4.3% of Letko Brosseau & Associates Inc.'s portfolio, making the stock its 2nd largest position. Letko Brosseau & Associates Inc. owned approximately 0.33% of Bank of Nova Scotia worth $221,521,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new position in Bank of Nova Scotia during the 4th quarter worth about $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Bank of Nova Scotia during the fourth quarter worth about $31,000. Allworth Financial LP grew its holdings in shares of Bank of Nova Scotia by 121.1% during the fourth quarter. Allworth Financial LP now owns 639 shares of the bank's stock worth $33,000 after buying an additional 350 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new stake in Bank of Nova Scotia in the 4th quarter valued at approximately $83,000. Finally, Dunhill Financial LLC bought a new stake in Bank of Nova Scotia in the 4th quarter valued at approximately $95,000. Institutional investors and hedge funds own 49.13% of the company's stock.

Bank of Nova Scotia Stock Performance

BNS stock traded up $0.36 during trading hours on Thursday, reaching $51.40. The stock had a trading volume of 1,341,584 shares, compared to its average volume of 1,696,463. The stock has a 50-day simple moving average of $48.13 and a 200 day simple moving average of $51.16. The Bank of Nova Scotia has a fifty-two week low of $43.68 and a fifty-two week high of $57.07. The stock has a market capitalization of $64.02 billion, a PE ratio of 11.90, 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 current ratio of 1.03 and a quick ratio of 1.03.

Bank of Nova Scotia Cuts Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on BNS shares. 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. CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Royal Bank of Canada decreased their price objective on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a report on Wednesday, February 26th. Finally, Bank of America lowered Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia presently has an average rating of "Hold" and an average price target of $81.00.

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.