Scotia Capital Inc. Sells 252,981 Shares of The Bank of Nova Scotia (NYSE:BNS)

Scotia Capital Inc. cut its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,024,260 shares of the bank's stock after selling 252,981 shares during the period. Bank of Nova Scotia makes up 4.0% of Scotia Capital Inc.'s investment portfolio, making the stock its 4th biggest holding. Scotia Capital Inc. owned 1.13% of Bank of Nova Scotia worth $752,582,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in 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 purchasing an additional 524,496 shares in the last quarter. Galibier Capital Management Ltd. increased its position in Bank of Nova Scotia by 38,283.3% during the 4th quarter. Galibier Capital Management Ltd. now owns 476,721 shares of the bank's stock worth $25,586,000 after purchasing an additional 475,479 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Bank of Nova Scotia by 7.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,095,285 shares of the bank's stock worth $58,839,000 after buying an additional 77,820 shares in the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at approximately $292,000. Finally, Blue Trust Inc. boosted its stake in shares of Bank of Nova Scotia by 98.6% in the fourth quarter. Blue Trust Inc. now owns 3,134 shares of the bank's stock valued at $171,000 after buying an additional 1,556 shares in the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

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Bank of Nova Scotia Price Performance

Shares of NYSE:BNS traded up $0.58 during midday trading on Friday, hitting $46.06. 2,434,443 shares of the stock were exchanged, compared to its average volume of 1,686,665. 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 current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average price of $48.65 and a 200-day moving average price of $51.78. The stock has a market cap of $57.37 billion, a P/E ratio of 10.66, a PEG ratio of 1.16 and a beta of 1.02.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. This represents a $2.97 annualized dividend and a dividend yield of 6.44%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 82.77%.

Analyst Ratings Changes

Several research analysts have issued reports on BNS shares. CIBC reiterated a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Bank of America downgraded shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. Royal Bank of Canada decreased 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 report on Wednesday, February 26th. Finally, Cibc World Mkts cut shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Bank of Nova Scotia currently has an average rating of "Hold" and a consensus price target of $81.00.

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.