The Bank of Nova Scotia (NYSE:BNS) Shares Sold by Investors Research Corp

Investors Research Corp cut its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 8.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,200 shares of the bank’s stock after selling 300 shares during the quarter. Investors Research Corp’s holdings in Bank of Nova Scotia were worth $172,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Toronto Dominion Bank raised its holdings in 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 purchasing an additional 2,195,604 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in 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 purchasing an additional 2,346,995 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Bank of Nova Scotia by 1.8% during the fourth quarter. CIBC Asset Management Inc now owns 10,259,279 shares of the bank’s stock worth $551,766,000 after purchasing an additional 184,761 shares during the last quarter. Geode Capital Management LLC raised its holdings in 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 purchasing an additional 524,496 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Bank of Nova Scotia by 260.1% in 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 during the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Barclays raised Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada cut 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 report on Wednesday, February 26th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, UBS Group raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $75.50.

Bank of Nova Scotia Stock Performance

Bank of Nova Scotia stock opened at $47.86 on Tuesday. The firm has a market capitalization of $59.60 billion, a P/E ratio of 11.08, a PEG ratio of 1.16 and a beta of 1.11. The stock has a fifty day moving average price of $51.01 and a 200 day moving average price of $52.53. The Bank of Nova Scotia has a 52 week low of $43.67 and a 52 week high of $57.07. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be paid a $0.7415 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 annualized dividend and a yield of 6.20%. Bank of Nova Scotia’s payout ratio is currently 82.77%.

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.