The Bank of Nova Scotia (NYSE:BNS) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 1.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,023,560 shares of the bank's stock after selling 96,418 shares during the period. JPMorgan Chase & Co. owned approximately 0.48% of Bank of Nova Scotia worth $328,224,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in Bank of Nova Scotia by 1,588.2% during the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank's stock worth $47,000 after acquiring an additional 810 shares during the period. City State Bank purchased a new stake in shares of Bank of Nova Scotia during the 3rd quarter worth $57,000. Blue Trust Inc. increased its holdings in shares of Bank of Nova Scotia by 171.6% in the 3rd quarter. Blue Trust Inc. now owns 1,578 shares of the bank's stock valued at $86,000 after purchasing an additional 997 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Bank of Nova Scotia in the 3rd quarter valued at about $111,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Bank of Nova Scotia in the second quarter valued at about $104,000. Hedge funds and other institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Trading Up 0.3 %

Shares of Bank of Nova Scotia stock traded up $0.14 during mid-day trading on Monday, hitting $53.90. 805,590 shares of the stock were exchanged, compared to its average volume of 1,702,453. The stock has a market capitalization of $67.11 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 1.26 and a beta of 1.07. The Bank of Nova Scotia has a twelve month low of $43.67 and a twelve month high of $57.07. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The company has a 50-day simple moving average of $54.37 and a 200 day simple moving average of $50.82.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th will be paid a $0.7535 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date of this dividend is Tuesday, January 7th. Bank of Nova Scotia's payout ratio is 72.45%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Cibc World Mkts raised shares of Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a report on Friday, September 20th. Royal Bank of Canada lifted their price objective on Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a "sector perform" rating in a report on Wednesday, December 4th. Canaccord Genuity Group raised Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Canaccord Genuity Group raised Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Finally, TD Securities raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $72.00.

Bank of Nova Scotia Profile

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.