Intech Investment Management LLC cut its stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 16.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,557 shares of the bank's stock after selling 20,659 shares during the period. Intech Investment Management LLC's holdings in Bank of Nova Scotia were worth $5,719,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Bank of Nova Scotia by 260.1% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank's stock valued at $298,575,000 after purchasing an additional 3,958,580 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Bank of Nova Scotia by 24.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank's stock worth $640,624,000 after buying an additional 2,346,995 shares during the period. Toronto Dominion Bank boosted its holdings 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 acquiring an additional 2,195,604 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Bank of Nova Scotia by 17.5% during the third quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank's stock worth $241,981,000 after acquiring an additional 660,097 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Bank of Nova Scotia by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank's stock valued at $310,817,000 after acquiring an additional 524,496 shares during the period. Institutional investors and hedge funds own 49.13% of the company's stock.
Bank of Nova Scotia Stock Performance
NYSE BNS traded down $0.09 on Friday, hitting $48.01. 2,008,307 shares of the company's stock were exchanged, compared to its average volume of 1,615,968. The firm has a market cap of $59.80 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 1.16 and a beta of 1.11. The firm's 50-day moving average price is $50.15 and its two-hundred day moving average price is $52.42. The Bank of Nova Scotia has a fifty-two week low of $43.68 and a fifty-two week high of $57.07. 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 of this dividend is Tuesday, April 1st. This represents a $2.97 annualized dividend and a dividend yield of 6.18%. Bank of Nova Scotia's dividend payout ratio is presently 82.77%.
Analysts Set New Price Targets
Several research analysts have issued reports on BNS shares. CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Royal Bank of Canada dropped their price target on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 26th. Finally, Cibc World Mkts downgraded Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of "Hold" and a consensus target price of $81.00.
Check Out Our Latest Report on Bank of Nova Scotia
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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