Arrowstreet Capital Limited Partnership Sells 344,818 Shares of The Bank of Nova Scotia (NYSE:BNS)

Arrowstreet Capital Limited Partnership trimmed its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 95.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,534 shares of the bank's stock after selling 344,818 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Bank of Nova Scotia were worth $887,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of BNS. Murphy & Mullick Capital Management Corp acquired a new position in shares of Bank of Nova Scotia during the 4th quarter worth about $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at $31,000. Allworth Financial LP lifted its holdings in 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 acquiring an additional 350 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Bank of Nova Scotia by 1,588.2% in the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank's stock valued at $47,000 after acquiring an additional 810 shares during the period. Finally, Fortitude Family Office LLC bought a new stake in shares of Bank of Nova Scotia in the fourth quarter worth about $73,000. 49.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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Bank of Nova Scotia Price Performance

BNS stock traded up $0.01 during midday trading on Tuesday, reaching $46.88. The company had a trading volume of 1,354,254 shares, compared to its average volume of 1,681,217. The company has a market capitalization of $58.39 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The Bank of Nova Scotia has a 1-year low of $43.68 and a 1-year high of $57.07. The stock has a 50 day moving average price of $48.57 and a 200-day moving average price of $51.70.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be paid a $0.7415 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 6.33%. Bank of Nova Scotia's dividend payout ratio (DPR) is 83.05%.

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.