Clearbridge Investments LLC cut its stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,218,646 shares of the bank's stock after selling 48,088 shares during the quarter. Clearbridge Investments LLC owned about 0.18% of Bank of Nova Scotia worth $119,186,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of BNS. Vanguard Group Inc. raised its holdings in shares of Bank of Nova Scotia by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank's stock valued at $2,758,150,000 after buying an additional 969,488 shares during the period. Toronto Dominion Bank boosted its stake in shares of Bank of Nova Scotia by 9.6% in the third quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank's stock valued at $1,361,752,000 after purchasing an additional 2,195,604 shares during the period. TD Asset Management Inc. increased its stake in Bank of Nova Scotia by 1.7% during the 4th quarter. TD Asset Management Inc. now owns 18,966,078 shares of the bank's stock worth $1,017,933,000 after buying an additional 308,837 shares during the period. Norges Bank acquired a new position in Bank of Nova Scotia in the 4th quarter worth $690,746,000. Finally, CIBC Asset Management Inc boosted its position in Bank of Nova Scotia by 1.8% in the 4th quarter. CIBC Asset Management Inc now owns 10,259,279 shares of the bank's stock valued at $551,766,000 after buying an additional 184,761 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company's stock.
Bank of Nova Scotia Stock Performance
Shares of BNS stock traded down $1.45 on Friday, hitting $46.92. 3,802,191 shares of the stock traded hands, compared to its average volume of 1,672,514. The company's fifty day moving average is $49.45 and its 200 day moving average is $52.16. The Bank of Nova Scotia has a 1-year low of $43.68 and a 1-year high of $57.07. The company has a market capitalization of $58.44 billion, a PE ratio of 10.86, a PEG 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.
Bank of Nova Scotia Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be given a $0.7415 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.32%. Bank of Nova Scotia's payout ratio is currently 82.77%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on BNS. Cibc World Mkts lowered Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Royal Bank of Canada dropped their price objective on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Bank of America lowered Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday. Finally, CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $81.00.
View Our Latest Report on BNS
Bank of Nova Scotia Company Profile
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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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