Rathbones Group PLC Trims Holdings in The Bank of Nova Scotia (NYSE:BNS)

Rathbones Group PLC decreased its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 0.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 133,328 shares of the bank’s stock after selling 650 shares during the period. Rathbones Group PLC’s holdings in Bank of Nova Scotia were worth $7,156,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new position in Bank of Nova Scotia during the 4th quarter worth $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 $31,000. Allworth Financial LP lifted its holdings in shares of Bank of Nova Scotia by 121.1% in the fourth quarter. Allworth Financial LP now owns 639 shares of the bank’s stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Bank of Nova Scotia by 1,588.2% during 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 Bank of Nova Scotia in the 4th quarter worth about $73,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $44.55 on Tuesday. The firm has a market capitalization of $55.48 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. 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 Bank of Nova Scotia has a 12 month low of $43.68 and a 12 month high of $57.07. The firm has a fifty day simple moving average of $49.30 and a two-hundred day simple moving average of $52.10.

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 issued a $0.7415 dividend. This represents a $2.97 annualized dividend and a yield of 6.66%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 82.77%.

Wall Street Analysts Forecast Growth

BNS has been the topic of a number of analyst reports. Cibc World Mkts lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Royal Bank of Canada cut their target price 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. Bank of America cut Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a report on Monday, March 31st. Finally, CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $81.00.

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.