Barrow Hanley Mewhinney & Strauss LLC trimmed its holdings in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,867,989 shares of the bank's stock after selling 88,185 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned about 0.31% of Bank of Nova Scotia worth $207,788,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Bank of Nova Scotia during the fourth quarter worth about $690,746,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Bank of Nova Scotia by 260.1% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank's stock worth $298,575,000 after purchasing an additional 3,958,580 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Bank of Nova Scotia by 9.6% in the 3rd quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank's stock worth $1,361,752,000 after purchasing an additional 2,195,604 shares during the period. Vanguard Group Inc. lifted its stake in Bank of Nova Scotia by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank's stock valued at $2,758,150,000 after purchasing an additional 969,488 shares during the last quarter. Finally, Hillsdale Investment Management Inc. grew its holdings in Bank of Nova Scotia by 370.0% during the fourth quarter. Hillsdale Investment Management Inc. now owns 883,511 shares of the bank's stock valued at $47,391,000 after purchasing an additional 695,519 shares during the period. 49.13% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have issued reports on BNS shares. Bank of America lowered Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday. Cibc World Mkts cut 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 cut 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 reissued a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $81.00.
View Our Latest Research Report on BNS
Bank of Nova Scotia Price Performance
Shares of BNS traded up $0.77 during midday trading on Thursday, hitting $48.29. 1,158,751 shares of the company traded hands, compared to its average volume of 1,651,130. The stock has a 50-day moving average of $49.62 and a 200-day moving average of $52.23. 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 Bank of Nova Scotia has a one year low of $43.68 and a one year high of $57.07. The firm has a market cap of $60.15 billion, a P/E ratio of 11.18, a PEG ratio of 1.16 and a beta of 1.11.
Bank of Nova Scotia Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 annualized dividend and a dividend yield of 6.14%. Bank of Nova Scotia's payout ratio is currently 82.77%.
About Bank of Nova Scotia
(
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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