The Bank of Nova Scotia (NYSE:BNS) Position Reduced by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 18.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 606,233 shares of the bank’s stock after selling 141,630 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bank of Nova Scotia were worth $32,537,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Magnus Financial Group LLC boosted its stake in Bank of Nova Scotia by 4.1% during the 4th quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank’s stock valued at $274,000 after acquiring an additional 200 shares during the last quarter. Sigma Planning Corp boosted its stake in Bank of Nova Scotia by 1.9% during the 3rd quarter. Sigma Planning Corp now owns 11,089 shares of the bank’s stock valued at $604,000 after acquiring an additional 210 shares during the last quarter. Private Advisor Group LLC boosted its stake in Bank of Nova Scotia by 3.5% during the 4th quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock valued at $336,000 after acquiring an additional 211 shares during the last quarter. Addison Advisors LLC boosted its stake in Bank of Nova Scotia by 7.3% during the 3rd quarter. Addison Advisors LLC now owns 3,357 shares of the bank’s stock valued at $183,000 after acquiring an additional 227 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its stake in Bank of Nova Scotia by 10.2% during the 4th quarter. Lindbrook Capital LLC now owns 2,860 shares of the bank’s stock valued at $154,000 after acquiring an additional 264 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Stock Down 1.0 %

BNS stock opened at $47.86 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. 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’s 50-day simple moving average is $51.01 and its 200 day simple moving average is $52.53. The stock has a market cap of $59.60 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11.

Bank of Nova Scotia Cuts Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.20%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 82.77%.

Analyst Ratings Changes

BNS has been the topic of a number of research reports. CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Cibc World Mkts cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Barclays raised shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. Finally, Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $75.50.

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.