Beutel Goodman & Co Ltd. lessened its position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 9.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,492,912 shares of the bank's stock after selling 710,639 shares during the quarter. Bank of Nova Scotia comprises about 1.9% of Beutel Goodman & Co Ltd.'s investment portfolio, making the stock its 20th biggest position. Beutel Goodman & Co Ltd. owned about 0.52% of Bank of Nova Scotia worth $348,482,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Magnus Financial Group LLC grew its holdings in Bank of Nova Scotia by 4.1% in the 4th quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank's stock valued at $274,000 after buying an additional 200 shares during the last quarter. Private Advisor Group LLC raised its stake in Bank of Nova Scotia by 3.5% during the 4th quarter. Private Advisor Group LLC now owns 6,248 shares of the bank's stock valued at $336,000 after purchasing an additional 211 shares during the last quarter. Moran Wealth Management LLC raised its stake in Bank of Nova Scotia by 6.5% during the 4th quarter. Moran Wealth Management LLC now owns 3,925 shares of the bank's stock valued at $211,000 after purchasing an additional 240 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in Bank of Nova Scotia by 10.2% in the 4th quarter. Lindbrook Capital LLC now owns 2,860 shares of the bank's stock valued at $154,000 after purchasing an additional 264 shares during the period. Finally, Merit Financial Group LLC grew its position in Bank of Nova Scotia by 5.8% in the 4th quarter. Merit Financial Group LLC now owns 4,905 shares of the bank's stock worth $264,000 after purchasing an additional 271 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
BNS has been the subject of several research reports. 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 cut their target price on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 26th. Bank of America downgraded shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday. Finally, CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $81.00.
Check Out Our Latest Report on Bank of Nova Scotia
Bank of Nova Scotia Price Performance
NYSE:BNS traded up $0.36 on Wednesday, reaching $47.23. The stock had a trading volume of 622,163 shares, compared to its average volume of 1,648,901. The company has a market capitalization of $58.83 billion, a P/E ratio of 10.93, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The stock has a fifty day moving average price of $49.70 and a 200-day moving average price of $52.26. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The Bank of Nova Scotia has a 1-year low of $43.68 and a 1-year high of $57.07.
Bank of Nova Scotia Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be paid a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a yield of 6.28%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio is currently 82.77%.
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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