Marathon Asset Management Ltd Reduces Holdings in The Bank of Nova Scotia (NYSE:BNS)

Marathon Asset Management Ltd lowered its holdings in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 908,915 shares of the bank's stock after selling 28,662 shares during the period. Bank of Nova Scotia makes up 1.4% of Marathon Asset Management Ltd's investment portfolio, making the stock its 22nd largest position. Marathon Asset Management Ltd owned about 0.07% of Bank of Nova Scotia worth $48,807,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Toronto Dominion Bank grew its holdings in shares of Bank of Nova Scotia by 9.6% during the 3rd 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 last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of 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 valued at $640,624,000 after buying an additional 2,346,995 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Bank of Nova Scotia by 1.8% in the fourth quarter. CIBC Asset Management Inc now owns 10,259,279 shares of the bank's stock worth $551,766,000 after buying an additional 184,761 shares during the period. Geode Capital Management LLC grew its position in Bank of Nova Scotia by 10.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank's stock worth $310,817,000 after acquiring an additional 524,496 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Bank of Nova Scotia by 260.1% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank's stock worth $298,575,000 after purchasing an additional 3,958,580 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several research firms recently issued reports on BNS. Canaccord Genuity Group raised Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Canaccord Genuity Group raised Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. Royal Bank of Canada reduced 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 note on Wednesday, February 26th. Bank of America raised Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Tuesday, November 19th. Finally, UBS Group raised shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $75.50.

Bank of Nova Scotia Stock Performance

Shares of Bank of Nova Scotia stock traded down $0.41 during trading on Thursday, hitting $48.17. 1,230,891 shares of the company's stock traded hands, compared to its average volume of 1,875,300. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. 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 market capitalization of $60.00 billion, a P/E ratio of 11.15, a PEG ratio of 1.16 and a beta of 1.11. The business has a 50-day simple moving average of $51.35 and a 200-day simple moving average of $52.48.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 82.77%.

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.