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

Unigestion Holding SA decreased its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 46.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 158,523 shares of the bank’s stock after selling 135,507 shares during the period. Unigestion Holding SA’s holdings in Bank of Nova Scotia were worth $8,502,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new stake in Bank of Nova Scotia in the fourth quarter valued at $25,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at about $31,000. Allworth Financial LP lifted its holdings in shares of Bank of Nova Scotia by 121.1% in the 4th quarter. Allworth Financial LP now owns 639 shares of the bank’s stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Bank of Nova Scotia by 1,588.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock valued at $47,000 after purchasing an additional 810 shares during the period. Finally, Fortitude Family Office LLC purchased a new position in Bank of Nova Scotia during the 4th quarter worth approximately $73,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BNS shares. Bank of America cut Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research note on Monday, March 31st. Royal Bank of Canada reduced their price target on shares of 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. Cibc World Mkts downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Finally, CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $81.00.

Bank of Nova Scotia Stock Performance

NYSE:BNS opened at $46.92 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $58.44 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. The firm’s fifty day moving average price is $49.45 and its 200 day moving average price is $52.16. The Bank of Nova Scotia has a 1-year low of $43.68 and a 1-year high of $57.07.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. This represents a $2.97 annualized dividend and a dividend yield of 6.32%. 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 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.