AMF Tjanstepension AB cut its stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 17.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 218,606 shares of the bank's stock after selling 45,333 shares during the period. AMF Tjanstepension AB's holdings in Bank of Nova Scotia were worth $11,815,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Bank of Nova Scotia by 260.1% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank's stock worth $298,575,000 after acquiring an additional 3,958,580 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Bank of Nova Scotia by 24.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank's stock valued at $640,624,000 after purchasing an additional 2,346,995 shares in the last quarter. Toronto Dominion Bank boosted its position in Bank of Nova Scotia by 9.6% during the third quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank's stock worth $1,361,752,000 after purchasing an additional 2,195,604 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Bank of Nova Scotia by 17.5% in the third quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank's stock valued at $241,981,000 after purchasing an additional 660,097 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Bank of Nova Scotia by 10.3% during the third quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank's stock worth $310,817,000 after purchasing an additional 524,496 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company's stock.
Bank of Nova Scotia Trading Up 0.1 %
NYSE BNS traded up $0.06 on Wednesday, reaching $47.59. 1,341,426 shares of the company were exchanged, compared to its average volume of 1,837,840. 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 business's fifty day moving average price is $50.89 and its 200 day moving average price is $52.52. The stock has a market capitalization of $59.28 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a fifty-two week low of $43.67 and a fifty-two week high of $57.07.
Bank of Nova Scotia Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.7415 per share. This represents a $2.97 dividend on an annualized basis and a yield of 6.23%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 82.77%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on BNS. Canaccord Genuity Group upgraded Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. 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 research note on Wednesday, February 26th. UBS Group upgraded Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Monday, November 18th. Cibc World Mkts lowered Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, CIBC reaffirmed a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $75.50.
Check Out Our Latest Report on Bank of Nova Scotia
Bank of Nova Scotia Company 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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