Canada Pension Plan Investment Board decreased its holdings in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 10.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,469,657 shares of the bank's stock after selling 412,402 shares during the period. Canada Pension Plan Investment Board owned about 0.28% of Bank of Nova Scotia worth $186,078,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in Bank of Nova Scotia by 1,588.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank's stock valued at $47,000 after purchasing an additional 810 shares during the period. State Street Corp lifted its stake in Bank of Nova Scotia by 1.4% in the 3rd quarter. State Street Corp now owns 124,030 shares of the bank's stock valued at $6,758,000 after purchasing an additional 1,690 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in Bank of Nova Scotia by 20.2% in the third quarter. Orion Portfolio Solutions LLC now owns 5,821 shares of the bank's stock valued at $317,000 after buying an additional 979 shares in the last quarter. Barclays PLC grew its stake in shares of Bank of Nova Scotia by 27.5% during the third quarter. Barclays PLC now owns 214,957 shares of the bank's stock worth $11,712,000 after buying an additional 46,421 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Bank of Nova Scotia during the third quarter worth $111,000. Institutional investors and hedge funds own 49.13% of the company's stock.
Bank of Nova Scotia Stock Up 0.7 %
Shares of BNS stock traded up $0.35 on Friday, hitting $47.46. The stock had a trading volume of 1,308,893 shares, compared to its average volume of 1,676,652. 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 stock has a market cap of $59.11 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. The Bank of Nova Scotia has a 12-month low of $43.68 and a 12-month high of $57.07. The business has a 50 day moving average of $48.28 and a 200 day moving average of $51.53.
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 annualized dividend and a yield of 6.25%. Bank of Nova Scotia's payout ratio is 83.05%.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on BNS. Royal Bank of Canada dropped their price objective on shares of 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. Bank of America downgraded shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. 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. Finally, CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia currently has an average rating of "Hold" and an average target price of $81.00.
Read Our Latest Report on BNS
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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