Korea Investment CORP Has $50.25 Million Position in The Bank of Nova Scotia (NYSE:BNS)

Korea Investment CORP lessened its holdings in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 6.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 936,201 shares of the bank's stock after selling 69,166 shares during the period. Korea Investment CORP owned 0.08% of Bank of Nova Scotia worth $50,247,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BNS. Brown Brothers Harriman & Co. increased its position in Bank of Nova Scotia by 700.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,568 shares of the bank's stock valued at $194,000 after acquiring an additional 3,122 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of 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 valued at $47,000 after purchasing an additional 810 shares during the last quarter. Bridgewater Associates LP acquired a new stake in shares of Bank of Nova Scotia in the third quarter valued at approximately $4,485,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Bank of Nova Scotia by 40.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 747,863 shares of the bank's stock worth $40,793,000 after purchasing an additional 216,371 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its position in Bank of Nova Scotia by 0.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 161,073 shares of the bank's stock worth $8,786,000 after purchasing an additional 780 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.

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Bank of Nova Scotia Trading Down 1.1 %

BNS traded down $0.51 during midday trading on Tuesday, reaching $46.93. 1,999,681 shares of the company were exchanged, compared to its average volume of 1,652,838. The stock has a market capitalization of $58.45 billion, a P/E ratio of 10.86, a PEG ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a one year low of $43.68 and a one year high of $57.07. The stock's 50-day simple moving average is $49.70 and its 200 day simple moving average is $52.26. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 annualized dividend and a yield of 6.32%. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 82.77%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BNS shares. CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Bank of America lowered Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday. Cibc World Mkts downgraded shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada lowered their price target on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $81.00.

Bank of Nova Scotia Company 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.