Ossiam Sells 70,982 Shares of The Bank of Nova Scotia (NYSE:BNS)

Ossiam decreased its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 44.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,239 shares of the bank’s stock after selling 70,982 shares during the quarter. Ossiam’s holdings in Bank of Nova Scotia were worth $4,736,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BNS. Vanguard Group Inc. lifted its holdings in shares of Bank of Nova Scotia by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank’s stock valued at $2,758,150,000 after purchasing an additional 969,488 shares in the last quarter. TD Asset Management Inc. raised its position in Bank of Nova Scotia by 1.7% in the 4th quarter. TD Asset Management Inc. now owns 18,966,078 shares of the bank’s stock worth $1,017,933,000 after buying an additional 308,837 shares during the last quarter. Norges Bank bought a new position in Bank of Nova Scotia during the 4th quarter valued at about $690,746,000. CIBC Asset Management Inc lifted its stake in Bank of Nova Scotia by 1.8% during the 4th quarter. CIBC Asset Management Inc now owns 10,259,279 shares of the bank’s stock valued at $551,766,000 after acquiring an additional 184,761 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Bank of Nova Scotia by 5.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,096,123 shares of the bank’s stock valued at $434,196,000 after acquiring an additional 385,333 shares during the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Up 0.7 %

Shares of Bank of Nova Scotia stock opened at $47.46 on Friday. The Bank of Nova Scotia has a 1-year low of $43.68 and a 1-year high of $57.07. The company’s fifty day simple moving average is $48.28 and its 200-day simple moving average is $51.53. 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 stock has a market capitalization of $59.11 billion, a PE ratio of 10.99, a P/E/G ratio of 1.16 and a beta of 1.02.

Bank of Nova Scotia Cuts Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BNS shares. 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. CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. 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 for the company in a report on Wednesday, February 26th. Finally, Bank of America downgraded Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Bank of Nova Scotia has a consensus rating of “Hold” and a consensus 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.