Intact Investment Management Inc. lowered its position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 21.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,221,882 shares of the bank's stock after selling 341,712 shares during the quarter. Bank of Nova Scotia makes up approximately 2.3% of Intact Investment Management Inc.'s portfolio, making the stock its 7th biggest position. Intact Investment Management Inc. owned approximately 0.10% of Bank of Nova Scotia worth $65,605,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Bank of Nova Scotia during the fourth quarter worth $31,000. Allworth Financial LP grew its holdings in Bank of Nova Scotia by 121.1% in the fourth quarter. Allworth Financial LP now owns 639 shares of the bank's stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Bank of Nova Scotia by 1,588.2% in the third 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 last quarter. Fortitude Family Office LLC acquired a new stake in Bank of Nova Scotia in the fourth quarter valued at $73,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Bank of Nova Scotia in the third quarter valued at $111,000. Hedge funds and other institutional investors own 49.13% of the company's stock.
Bank of Nova Scotia Price Performance
Shares of BNS traded down $0.44 during trading hours on Tuesday, reaching $48.32. 1,512,818 shares of the company traded hands, compared to its average volume of 1,599,688. 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 stock has a market capitalization of $60.19 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a fifty-two week low of $43.68 and a fifty-two week high of $57.07. The stock has a fifty day simple moving average of $50.43 and a 200 day simple moving average of $52.48.
Bank of Nova Scotia Cuts Dividend
The firm also recently declared 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 6.14%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia's payout ratio is 82.77%.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the company. Barclays raised Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a report on Thursday, November 21st. Canaccord Genuity Group raised Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Bank of America upgraded Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Tuesday, November 19th. CIBC reaffirmed a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Finally, UBS Group raised Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $75.50.
Read Our Latest Analysis 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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