JPMorgan Chase & Co. Has $307.69 Million Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

JPMorgan Chase & Co. reduced its position in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,727,615 shares of the bank's stock after selling 295,945 shares during the quarter. JPMorgan Chase & Co. owned 0.46% of Bank of Nova Scotia worth $307,687,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its position 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 valued at $1,361,752,000 after purchasing an additional 2,195,604 shares during the period. Vanguard Group Inc. raised its holdings in Bank of Nova Scotia by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank's stock valued at $2,758,150,000 after acquiring an additional 969,488 shares during the period. Hillsdale Investment Management Inc. raised its holdings in Bank of Nova Scotia by 370.0% in the 4th quarter. Hillsdale Investment Management Inc. now owns 883,511 shares of the bank's stock valued at $47,391,000 after acquiring an additional 695,519 shares during the period. Guardian Partners Inc. acquired a new stake in Bank of Nova Scotia during the fourth quarter worth approximately $31,515,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Bank of Nova Scotia by 10.3% during the third 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 period. Institutional investors and hedge funds own 49.13% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BNS shares. Cibc World Mkts lowered 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. Bank of America lowered shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday. Finally, Royal Bank of Canada cut their price objective on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a report on Wednesday, February 26th. One investment 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. Based on data from MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of "Hold" and a consensus price target of $81.00.

Bank of Nova Scotia Price Performance

BNS stock traded down $1.45 during midday trading on Friday, reaching $46.92. The company had a trading volume of 3,802,191 shares, compared to its average volume of 1,672,525. 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 50 day moving average price of $49.45 and a 200-day moving average price of $52.16. 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 company has a market capitalization of $58.44 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02.

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 given a $0.7415 dividend. This represents a $2.97 annualized dividend and a dividend yield of 6.32%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia's payout ratio 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.