Marshall Wace LLP Reduces Position in The Bank of Nova Scotia (NYSE:BNS)

Marshall Wace LLP reduced its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 402,248 shares of the bank’s stock after selling 26,024 shares during the quarter. Marshall Wace LLP’s holdings in Bank of Nova Scotia were worth $21,609,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BNS. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Bank of Nova Scotia during the fourth quarter worth about $25,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Bank of Nova Scotia during the 4th quarter worth $31,000. Allworth Financial LP grew its position 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 during the period. Fortitude Family Office LLC acquired a new position in Bank of Nova Scotia in the fourth quarter valued at $73,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in Bank of Nova Scotia in the 4th quarter worth about $83,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Cibc World Mkts lowered shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Bank of America cut Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a report on Monday, March 31st. Finally, Royal Bank of Canada cut their price objective on Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Hold” and an average price target of $81.00.

Bank of Nova Scotia Stock Up 0.7 %

Shares of Bank of Nova Scotia stock opened at $47.46 on Friday. The company has a fifty day moving average price of $48.28 and a 200 day moving average price of $51.53. 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 twelve month low of $43.68 and a twelve month high of $57.07. The stock has a market cap of $59.11 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.7415 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 annualized dividend and a dividend yield of 6.25%. Bank of Nova Scotia’s payout ratio is currently 83.05%.

About Bank of Nova Scotia

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.