The Bank of Nova Scotia (NYSE:BNS) Shares Sold by Unigestion Holding SA

Unigestion Holding SA trimmed its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 33.6% in the 3rd quarter, Holdings Channel reports. The firm owned 294,030 shares of the bank’s stock after selling 148,949 shares during the period. Unigestion Holding SA’s holdings in Bank of Nova Scotia were worth $16,019,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BNS. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Bank of Nova Scotia by 260.1% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank’s stock worth $298,575,000 after buying an additional 3,958,580 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in Bank of Nova Scotia by 5,380.9% during the third quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank’s stock worth $216,447,000 after acquiring an additional 3,899,760 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Bank of Nova Scotia during the 2nd quarter valued at about $120,463,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Bank of Nova Scotia by 24.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank’s stock valued at $640,624,000 after acquiring an additional 2,346,995 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in Bank of Nova Scotia by 9.6% in the 3rd quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank’s stock valued at $1,361,752,000 after acquiring an additional 2,195,604 shares during the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Up 0.0 %

Bank of Nova Scotia stock opened at $55.83 on Wednesday. The company has a market capitalization of $69.48 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 1.25 and a beta of 1.07. 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 Bank of Nova Scotia has a fifty-two week low of $43.67 and a fifty-two week high of $57.07. The firm has a 50 day moving average price of $53.95 and a 200 day moving average price of $50.06.

Bank of Nova Scotia Cuts Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on BNS. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, UBS Group raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

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.