UniSuper Management Pty Ltd cut its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 19.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 23,700 shares of the bank's stock after selling 5,700 shares during the period. UniSuper Management Pty Ltd's holdings in Bank of Nova Scotia were worth $1,273,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank boosted its stake in shares of Bank of Nova Scotia by 9.6% in 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 during the last quarter. Vanguard Group Inc. boosted its stake in Bank of Nova Scotia by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank's stock worth $2,758,150,000 after purchasing an additional 969,488 shares during the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of 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 worth $47,391,000 after buying an additional 695,519 shares in the last quarter. Guardian Partners Inc. acquired a new stake in shares of Bank of Nova Scotia in the fourth quarter valued at about $31,515,000. Finally, Geode Capital Management LLC lifted its stake in shares of Bank of Nova Scotia by 10.3% in the third quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank's stock worth $310,817,000 after buying an additional 524,496 shares in the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.
Bank of Nova Scotia Trading Down 3.0 %
Shares of Bank of Nova Scotia stock traded down $1.45 during trading hours on Friday, hitting $46.92. The company's stock had a trading volume of 3,802,191 shares, compared to its average volume of 1,673,873. The firm has a fifty day moving average of $49.45 and a 200-day moving average of $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 cap of $58.44 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 1.16 and a beta of 1.02. The Bank of Nova Scotia has a twelve month low of $43.68 and a twelve month high of $57.07.
Bank of Nova Scotia Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio is presently 82.77%.
Analysts Set New Price Targets
Several analysts recently issued reports on the stock. CIBC reaffirmed a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Royal Bank of Canada dropped their price target on 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. Cibc World Mkts downgraded Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Finally, Bank of America cut Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report 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 given a buy rating to the company's stock. Based on data from MarketBeat.com, Bank of Nova Scotia presently has an average rating of "Hold" and a consensus price target of $81.00.
Check Out Our Latest Analysis on BNS
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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