Dimensional Fund Advisors LP lessened its position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,149,870 shares of the bank's stock after selling 82,001 shares during the period. Dimensional Fund Advisors LP owned about 0.41% of Bank of Nova Scotia worth $276,654,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp boosted its holdings in shares of Bank of Nova Scotia by 1.4% during the third quarter. State Street Corp now owns 124,030 shares of the bank's stock worth $6,758,000 after purchasing an additional 1,690 shares during the last quarter. Barclays PLC boosted its stake in Bank of Nova Scotia by 27.5% in the 3rd 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. Wilmington Savings Fund Society FSB purchased a new stake in Bank of Nova Scotia in the 3rd quarter valued at about $111,000. Franklin Resources Inc. grew its holdings in Bank of Nova Scotia by 15.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,287,198 shares of the bank's stock valued at $68,689,000 after buying an additional 171,539 shares during the period. Finally, Fortitude Family Office LLC acquired a new position in shares of Bank of Nova Scotia during the 4th quarter valued at about $73,000. Hedge funds and other institutional investors own 49.13% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on BNS shares. Royal Bank of Canada lowered their target price 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 Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. CIBC reiterated a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Finally, Cibc World Mkts downgraded shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $81.00.
Read Our Latest Stock Report on Bank of Nova Scotia
Bank of Nova Scotia Stock Performance
BNS stock traded up $0.24 during trading on Friday, hitting $48.80. 1,933,957 shares of the company's stock traded hands, compared to its average volume of 1,694,382. The stock has a market capitalization of $60.78 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. The Bank of Nova Scotia has a 52 week low of $43.68 and a 52 week high of $57.07. The stock has a fifty day moving average price of $48.04 and a two-hundred day moving average price of $51.41. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59.
Bank of Nova Scotia Cuts Dividend
The firm 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 dividend of $0.7415 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 annualized dividend and a yield of 6.08%. Bank of Nova Scotia's dividend payout ratio (DPR) is 83.05%.
Bank of Nova Scotia 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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