Amundi decreased its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,222,393 shares of the bank's stock after selling 101,908 shares during the period. Amundi owned approximately 0.34% of Bank of Nova Scotia worth $226,827,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in BNS. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Bank of Nova Scotia by 260.1% during the third 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Bank of Nova Scotia by 24.9% during 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 acquiring an additional 2,346,995 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Bank of Nova Scotia by 9.6% during the third quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank's stock worth $1,361,752,000 after acquiring an additional 2,195,604 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Bank of Nova Scotia by 17.5% during the third quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank's stock worth $241,981,000 after acquiring an additional 660,097 shares in the last quarter. Finally, Geode Capital Management LLC increased its position 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 in the last quarter. Institutional investors own 49.13% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on BNS. UBS Group raised shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Monday, November 18th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. Barclays raised shares of Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a research report on Thursday, November 21st. Royal Bank of Canada decreased their target price 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 report on Wednesday, February 26th. Finally, Cibc World Mkts downgraded shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $75.50.
Read Our Latest Analysis on Bank of Nova Scotia
Bank of Nova Scotia Stock Performance
BNS stock traded down $0.35 during trading hours on Thursday, reaching $47.24. The stock had a trading volume of 886,360 shares, compared to its average volume of 1,820,881. The stock has a market capitalization of $58.83 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. 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 stock has a 50-day simple moving average of $50.76 and a 200 day simple moving average of $52.49. The Bank of Nova Scotia has a fifty-two week low of $43.67 and a fifty-two week high of $57.07.
Bank of Nova Scotia Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be paid a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a yield of 6.28%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio is currently 82.77%.
Bank of Nova Scotia Profile
(
Free Report)
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.
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