Marshall Wace LLP Reduces Position in The Bank of Nova Scotia (NYSE:BNS)

Marshall Wace LLP reduced its holdings in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 402,248 shares of the bank's stock after selling 26,024 shares during the period. Marshall Wace LLP's holdings in Bank of Nova Scotia were worth $21,609,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BNS. Murphy & Mullick Capital Management Corp bought a new position in shares of Bank of Nova Scotia in the fourth quarter worth approximately $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Bank of Nova Scotia during the fourth quarter valued at $31,000. Allworth Financial LP raised its position in Bank of Nova Scotia by 121.1% in the 4th quarter. Allworth Financial LP now owns 639 shares of the bank's stock worth $33,000 after purchasing an additional 350 shares during the period. Fortitude Family Office LLC purchased a new stake in shares of Bank of Nova Scotia in the fourth quarter worth approximately $73,000. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of Bank of Nova Scotia during the 4th quarter worth approximately $83,000. 49.13% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Stock Performance

Shares of NYSE:BNS traded up $0.09 during midday trading on Thursday, reaching $48.56. The company's stock had a trading volume of 1,867,538 shares, compared to its average volume of 1,693,632. The Bank of Nova Scotia has a twelve month low of $43.68 and a twelve month high of $57.07. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $60.48 billion, a PE ratio of 11.24, a P/E/G ratio of 1.16 and a beta of 1.02. The stock has a fifty day moving average of $48.10 and a 200 day moving average of $51.44.

Bank of Nova Scotia Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.7415 per share. This represents a $2.97 dividend on an annualized basis and a yield of 6.11%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 83.05%.

Wall Street Analysts Forecast Growth

A number of analysts have 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. 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 on the stock in a research note on Wednesday, February 26th. CIBC reaffirmed a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Finally, Bank of America downgraded shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Bank of Nova Scotia currently has a consensus rating of "Hold" and an average price target 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.