The Bank of Nova Scotia (NYSE:BNS) Stock Position Trimmed by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC decreased its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,867,989 shares of the bank’s stock after selling 88,185 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned approximately 0.31% of Bank of Nova Scotia worth $207,788,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in Bank of Nova Scotia by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank’s stock valued at $310,817,000 after acquiring an additional 524,496 shares during the period. Galibier Capital Management Ltd. increased its holdings in shares of Bank of Nova Scotia by 38,283.3% during the fourth quarter. Galibier Capital Management Ltd. now owns 476,721 shares of the bank’s stock valued at $25,586,000 after purchasing an additional 475,479 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Bank of Nova Scotia by 7.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,095,285 shares of the bank’s stock valued at $58,839,000 after purchasing an additional 77,820 shares in the last quarter. Mediolanum International Funds Ltd acquired a new stake in Bank of Nova Scotia in the fourth quarter worth about $292,000. Finally, Blue Trust Inc. grew its position in Bank of Nova Scotia by 98.6% in the 4th quarter. Blue Trust Inc. now owns 3,134 shares of the bank’s stock valued at $171,000 after buying an additional 1,556 shares in the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

NYSE BNS opened at $47.74 on Friday. The Bank of Nova Scotia has a 1 year low of $43.68 and a 1 year high of $57.07. The business’s fifty day moving average is $49.87 and its two-hundred day moving average is $52.33. The stock has a market capitalization of $59.46 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.16 and a beta of 1.11. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be paid a $0.7415 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 6.21%. Bank of Nova Scotia’s dividend payout ratio is currently 82.77%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BNS shares. Cibc World Mkts lowered shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada lowered their price target on Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $81.00.

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.