The Bank of Nova Scotia (NYSE:BNS) Shares Bought by TD Asset Management Inc.

TD Asset Management Inc. grew its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,966,078 shares of the bank's stock after purchasing an additional 308,837 shares during the quarter. Bank of Nova Scotia makes up about 0.9% of TD Asset Management Inc.'s holdings, making the stock its 22nd biggest position. TD Asset Management Inc. owned 1.52% of Bank of Nova Scotia worth $1,017,933,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of BNS. Natixis Advisors LLC raised its stake in Bank of Nova Scotia by 12.1% during the 3rd quarter. Natixis Advisors LLC now owns 51,240 shares of the bank's stock worth $2,792,000 after acquiring an additional 5,542 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Bank of Nova Scotia by 3.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 63,849 shares of the bank's stock worth $3,479,000 after purchasing an additional 2,090 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Bank of Nova Scotia by 12.3% in the 3rd quarter. Citigroup Inc. now owns 580,664 shares of the bank's stock valued at $31,673,000 after purchasing an additional 63,528 shares during the last quarter. Nwam LLC acquired a new stake in shares of Bank of Nova Scotia in the 3rd quarter valued at about $261,000. Finally, Brown Brothers Harriman & Co. grew its stake in Bank of Nova Scotia by 700.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,568 shares of the bank's stock worth $194,000 after buying an additional 3,122 shares during the last quarter. Hedge funds and other institutional investors own 49.13% of the company's stock.

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Bank of Nova Scotia Stock Performance

Shares of Bank of Nova Scotia stock traded down $0.60 during trading hours on Friday, hitting $47.74. 3,683,865 shares of the company were exchanged, compared to its average volume of 1,641,301. 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 business has a 50-day moving average of $49.87 and a 200-day moving average of $52.33. The Bank of Nova Scotia has a 1 year low of $43.68 and a 1 year high of $57.07. The stock has a market capitalization of $59.46 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 1.16 and a beta of 1.11.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be paid a $0.7415 dividend. This represents a $2.97 annualized dividend and a dividend yield of 6.21%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 82.77%.

Analyst Ratings Changes

BNS has been the subject of a number of research reports. Cibc World Mkts cut Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. CIBC reiterated a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada lowered their price objective on shares of 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $81.00.

About Bank of Nova Scotia

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.