AGF Management Ltd. Sells 4,082 Shares of The Bank of Nova Scotia (NYSE:BNS)

AGF Management Ltd. reduced its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 397,097 shares of the bank’s stock after selling 4,082 shares during the period. AGF Management Ltd.’s holdings in Bank of Nova Scotia were worth $21,332,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. 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 boosted its stake in shares of Bank of Nova Scotia by 121.1% during the 4th quarter. Allworth Financial LP now owns 639 shares of the bank’s stock worth $33,000 after purchasing an additional 350 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Bank of Nova Scotia by 1,588.2% during the 3rd 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. Fortitude Family Office LLC bought a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at about $73,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Bank of Nova Scotia in the 3rd quarter valued at about $111,000. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on BNS. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. 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. Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Royal Bank of Canada cut their price objective on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $75.50.

Bank of Nova Scotia Stock Performance

Bank of Nova Scotia stock opened at $47.57 on Wednesday. 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. The stock has a market cap of $59.24 billion, a P/E ratio of 11.01, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The stock has a 50 day moving average of $50.89 and a 200-day moving average of $52.52.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be paid a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a yield of 6.24%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s payout ratio is 82.77%.

Bank of Nova Scotia Company 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.