The Bank of Nova Scotia (NYSE:BNS) Stock Position Cut by Scotia Capital Inc.

Scotia Capital Inc. reduced its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 14,024,260 shares of the bank’s stock after selling 252,981 shares during the quarter. Bank of Nova Scotia makes up 4.0% of Scotia Capital Inc.’s portfolio, making the stock its 4th biggest holding. Scotia Capital Inc.’s holdings in Bank of Nova Scotia were worth $752,582,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new position in shares of Bank of Nova Scotia in the 4th quarter valued at $25,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Bank of Nova Scotia during the fourth quarter valued at approximately $31,000. Allworth Financial LP grew its position in shares of Bank of Nova Scotia by 121.1% during the fourth quarter. Allworth Financial LP now owns 639 shares of the bank’s stock worth $33,000 after buying an additional 350 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Bank of Nova Scotia by 1,588.2% in the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock worth $47,000 after purchasing an additional 810 shares during the period. Finally, Fortitude Family Office LLC acquired a new position in shares of Bank of Nova Scotia during the fourth quarter valued at $73,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on BNS shares. Royal Bank of Canada decreased their price objective 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 reiterated a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Cibc World Mkts cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, Bank of America lowered Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research note on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $81.00.

Bank of Nova Scotia Trading Up 4.3 %

Shares of BNS stock opened at $46.51 on Thursday. The Bank of Nova Scotia has a 12-month low of $43.68 and a 12-month high of $57.07. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $48.81 and a two-hundred day moving average price of $51.89. The firm has a market cap of $57.93 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be given a $0.7415 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 annualized dividend and a yield of 6.38%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 82.77%.

Bank of Nova Scotia 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.