Mitsubishi UFJ Trust & Banking Corp Has $2.24 Million Stake in The Bank of Nova Scotia (NYSE:BNS)

Mitsubishi UFJ Trust & Banking Corp decreased its stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 26.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,564 shares of the bank's stock after selling 15,200 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Bank of Nova Scotia were worth $2,236,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Bank of Nova Scotia in the 4th quarter valued at approximately $31,000. Allworth Financial LP increased its position in shares of Bank of Nova Scotia by 121.1% during the fourth quarter. Allworth Financial LP now owns 639 shares of the bank's stock valued at $33,000 after purchasing an additional 350 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Bank of Nova Scotia by 1,588.2% in the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank's stock valued at $47,000 after purchasing an additional 810 shares in the last quarter. Fortitude Family Office LLC bought a new position in Bank of Nova Scotia in the fourth quarter worth $73,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Bank of Nova Scotia during the third quarter worth $111,000. Institutional investors and hedge funds own 49.13% of the company's stock.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock traded down $1.45 during trading hours on Friday, hitting $46.92. 3,802,191 shares of the stock were exchanged, compared to its average volume of 1,673,873. The Bank of Nova Scotia has a 12 month low of $43.68 and a 12 month high of $57.07. The business's 50-day moving average is $49.45 and its two-hundred day moving average is $52.16. 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 stock has a market capitalization of $58.44 billion, a P/E ratio of 10.86, a P/E/G ratio of 1.16 and a beta of 1.02.

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Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders 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 annualized dividend and a yield of 6.32%. Bank of Nova Scotia's payout ratio is 82.77%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BNS shares. Royal Bank of Canada dropped 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 research note on Wednesday, February 26th. CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Bank of America downgraded Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. Finally, Cibc World Mkts cut Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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.