Zurcher Kantonalbank Zurich Cantonalbank Sells 141,630 Shares of The Bank of Nova Scotia (NYSE:BNS)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 18.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 606,233 shares of the bank's stock after selling 141,630 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Bank of Nova Scotia were worth $32,537,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Bank of Nova Scotia by 260.1% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank's stock worth $298,575,000 after acquiring an additional 3,958,580 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Bank of Nova Scotia by 24.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank's stock worth $640,624,000 after buying an additional 2,346,995 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Bank of Nova Scotia by 9.6% in the third quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank's stock worth $1,361,752,000 after buying an additional 2,195,604 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Bank of Nova Scotia by 17.5% in the third quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank's stock worth $241,981,000 after buying an additional 660,097 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of 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 valued at $310,817,000 after buying an additional 524,496 shares in the last quarter. Institutional investors own 49.13% of the company's stock.

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Analyst Upgrades and Downgrades

BNS has been the topic of a number of recent analyst reports. CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. UBS Group upgraded Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Monday, November 18th. Finally, Bank of America upgraded Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Bank of Nova Scotia currently has a consensus rating of "Hold" and a consensus price target of $75.50.

Bank of Nova Scotia Price Performance

Shares of BNS traded up $0.77 during midday trading on Friday, hitting $47.98. 1,072,328 shares of the company traded hands, compared to its average volume of 1,602,614. The stock has a market cap of $59.77 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 1.16 and a beta of 1.11. The firm has a 50 day moving average of $50.64 and a 200-day moving average of $52.45. 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 52 week low of $43.68 and a 52 week high of $57.07.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be issued a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.18%. 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 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.