Ossiam cut its holdings in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 44.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 88,239 shares of the bank's stock after selling 70,982 shares during the quarter. Ossiam's holdings in Bank of Nova Scotia were worth $4,736,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Bank of Nova Scotia by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank's stock valued at $2,758,150,000 after buying an additional 969,488 shares in the last quarter. TD Asset Management Inc. grew its stake in Bank of Nova Scotia by 1.7% in the 4th quarter. TD Asset Management Inc. now owns 18,966,078 shares of the bank's stock worth $1,017,933,000 after acquiring an additional 308,837 shares during the period. Norges Bank acquired a new position in shares of Bank of Nova Scotia during the 4th quarter valued at about $690,746,000. CIBC Asset Management Inc increased its holdings in shares of Bank of Nova Scotia by 1.8% during the 4th 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 last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Bank of Nova Scotia by 5.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,096,123 shares of the bank's stock valued at $434,196,000 after purchasing an additional 385,333 shares in the last quarter. 49.13% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
BNS has been the topic of several recent analyst reports. Cibc World Mkts cut shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Royal Bank of Canada reduced 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. Bank of America lowered shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. Finally, CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. One equities 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 data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $81.00.
Check Out Our Latest Stock Report on Bank of Nova Scotia
Bank of Nova Scotia Stock Up 0.2 %
BNS traded up $0.09 during trading on Thursday, reaching $48.56. 1,868,596 shares of the stock were exchanged, compared to its average volume of 1,693,632. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The Bank of Nova Scotia has a twelve month low of $43.68 and a twelve month high of $57.07. The stock's 50 day moving average price is $48.10 and its two-hundred day moving average price is $51.44. The stock has a market cap of $60.48 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02.
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 is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.11%. Bank of Nova Scotia's payout ratio is 83.05%.
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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