Bank of Nova Scotia (BNS) Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. lowered its stake in Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 21.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,450 shares of the bank’s stock after selling 1,250 shares during the quarter. New England Research & Management Inc.’s holdings in Bank of Nova Scotia were worth $287,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. TD Asset Management Inc. lifted its holdings in Bank of Nova Scotia by 1.4% in the 3rd quarter. TD Asset Management Inc. now owns 38,795,439 shares of the bank’s stock valued at $2,487,821,000 after acquiring an additional 523,053 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Bank of Nova Scotia by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 26,994,461 shares of the bank’s stock valued at $1,623,177,000 after acquiring an additional 1,105,865 shares during the last quarter. Jarislowsky Fraser Ltd lifted its holdings in Bank of Nova Scotia by 1.0% in the 3rd quarter. Jarislowsky Fraser Ltd now owns 16,829,361 shares of the bank’s stock valued at $1,079,211,000 after acquiring an additional 173,233 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in Bank of Nova Scotia by 7.2% in the 3rd quarter. Great West Life Assurance Co. Can now owns 13,611,106 shares of the bank’s stock valued at $873,039,000 after acquiring an additional 913,814 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Bank of Nova Scotia by 0.8% in the 3rd quarter. CIBC Asset Management Inc now owns 12,584,409 shares of the bank’s stock valued at $806,732,000 after acquiring an additional 101,510 shares during the last quarter. 46.98% of the stock is owned by institutional investors and hedge funds.

Shares of Bank of Nova Scotia (BNS) opened at $66.45 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.06 and a current ratio of 1.06. Bank of Nova Scotia has a 52 week low of $53.86 and a 52 week high of $66.78. The company has a market cap of $79,650.00, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.58 and a beta of 1.26.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Tuesday, January 2nd will be paid a dividend of $0.617 per share. This represents a $2.47 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Friday, December 29th. Bank of Nova Scotia’s dividend payout ratio is presently 47.23%.

A number of equities research analysts have weighed in on the stock. Canaccord Genuity reissued a “buy” rating and issued a $93.00 price target on shares of Bank of Nova Scotia in a report on Tuesday, December 5th. Scotiabank reissued a “buy” rating and issued a $95.00 price target on shares of Bank of Nova Scotia in a report on Wednesday, November 22nd. Zacks Investment Research downgraded shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. Macquarie assumed coverage on shares of Bank of Nova Scotia in a report on Tuesday, October 24th. They issued an “outperform” rating for the company. Finally, Citigroup raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $85.80.

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Bank of Nova Scotia Profile

The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

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Institutional Ownership by Quarter for Bank of Nova Scotia (NYSE:BNS)

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