Headlands Technologies LLC reduced its holdings in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 92.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,439 shares of the bank's stock after selling 31,699 shares during the quarter. Headlands Technologies LLC's holdings in Bank of Nova Scotia were worth $131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted 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 acquiring an additional 969,488 shares during the last quarter. Toronto Dominion Bank lifted its position in Bank of Nova Scotia by 9.6% during 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. boosted its holdings in Bank of Nova Scotia by 1.7% in the fourth quarter. TD Asset Management Inc. now owns 18,966,078 shares of the bank's stock worth $1,017,933,000 after purchasing an additional 308,837 shares during the last quarter. Norges Bank bought a new stake in Bank of Nova Scotia in the 4th quarter worth approximately $690,746,000. Finally, CIBC Asset Management Inc raised its stake in Bank of Nova Scotia by 1.8% during 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. 49.13% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on BNS. CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Bank of America cut Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. Royal Bank of Canada lowered their price objective on shares of 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. Finally, Cibc World Mkts lowered shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $81.00.
Check Out Our Latest Analysis on Bank of Nova Scotia
Bank of Nova Scotia Price Performance
NYSE:BNS traded down $1.27 during trading hours on Thursday, hitting $45.22. 633,304 shares of the stock traded hands, compared to its average volume of 2,046,616. 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 $43.67 and a 1 year high of $57.07. The stock has a 50 day moving average price of $48.81 and a 200 day moving average price of $51.89. The company has a market cap of $56.32 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02.
Bank of Nova Scotia Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.7415 per share. This represents a $2.97 annualized dividend and a dividend yield of 6.56%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 82.77%.
About Bank of Nova Scotia
(
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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