The Bank of Nova Scotia (NYSE:BNS) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,347,204 shares of the bank's stock after selling 40,027 shares during the period. Wellington Management Group LLP owned 0.19% of Bank of Nova Scotia worth $127,947,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp lifted its position in Bank of Nova Scotia by 1.4% during the 3rd quarter. State Street Corp now owns 124,030 shares of the bank's stock worth $6,758,000 after acquiring an additional 1,690 shares during the period. Stifel Financial Corp raised its stake in shares of Bank of Nova Scotia by 14.2% during the third quarter. Stifel Financial Corp now owns 64,054 shares of the bank's stock worth $3,490,000 after purchasing an additional 7,970 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Bank of Nova Scotia during the third quarter worth approximately $26,551,000. Royal London Asset Management Ltd. lifted its holdings in shares of Bank of Nova Scotia by 1.7% during the third quarter. Royal London Asset Management Ltd. now owns 153,414 shares of the bank's stock worth $8,360,000 after purchasing an additional 2,574 shares during the period. Finally, Murchinson Ltd. purchased a new position in Bank of Nova Scotia in the 3rd quarter valued at $249,000. Hedge funds and other institutional investors own 49.13% of the company's stock.

Analysts Set New Price Targets

BNS has been the subject of a number of analyst reports. Barclays upgraded shares of Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a research report on Thursday, November 21st. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Canaccord Genuity Group raised Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. UBS Group raised Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a report on Monday, November 18th. Finally, Bank of America raised Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Bank of Nova Scotia has an average rating of "Moderate Buy" and a consensus target price of $72.00.

Bank of Nova Scotia Price Performance

Shares of NYSE:BNS traded up $0.02 during trading on Tuesday, hitting $55.83. 669,237 shares of the stock were exchanged, compared to its average volume of 1,749,583. The company has a market cap of $69.48 billion, a PE ratio of 12.92, a P/E/G ratio of 1.25 and a beta of 1.07. 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 fifty day moving average price of $53.95 and a two-hundred day moving average price of $50.06. The Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month high of $57.07.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.7535 per share. The ex-dividend date is Tuesday, January 7th. This represents a $3.01 dividend on an annualized basis and a yield of 5.40%. Bank of Nova Scotia's payout ratio is 72.45%.

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.