Fiera Capital Corp reduced its stake in Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 3.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,149,154 shares of the bank’s stock after selling 187,002 shares during the quarter. Bank of Nova Scotia accounts for 1.3% of Fiera Capital Corp’s portfolio, making the stock its 26th largest position. Fiera Capital Corp owned approximately 0.50% of Bank of Nova Scotia worth $322,523,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of the business. Comerica Bank lifted its stake in shares of Bank of Nova Scotia by 1.3% in the 4th quarter. Comerica Bank now owns 71,893 shares of the bank’s stock valued at $4,032,000 after purchasing an additional 913 shares during the last quarter. Natixis Advisors L.P. increased its holdings in Bank of Nova Scotia by 22.1% during the 4th quarter. Natixis Advisors L.P. now owns 22,931 shares of the bank’s stock worth $1,143,000 after purchasing an additional 4,155 shares during the period. Millennium Management LLC increased its holdings in Bank of Nova Scotia by 669.3% during the 4th quarter. Millennium Management LLC now owns 163,067 shares of the bank’s stock worth $8,132,000 after purchasing an additional 141,869 shares during the period. Blueshift Asset Management LLC purchased a new position in shares of Bank of Nova Scotia in the 4th quarter valued at about $799,000. Finally, Commonwealth Bank of Australia increased its holdings in shares of Bank of Nova Scotia by 11.4% in the 4th quarter. Commonwealth Bank of Australia now owns 199,150 shares of the bank’s stock valued at $9,930,000 after acquiring an additional 20,412 shares during the last quarter. Hedge funds and other institutional investors own 45.22% of the company’s stock.
Bank of Nova Scotia stock traded down $0.55 during mid-day trading on Monday, hitting $53.80. 406,668 shares of the company were exchanged, compared to its average volume of 747,917. The firm has a market cap of $66.44 billion, a P/E ratio of 9.89, a P/E/G ratio of 2.06 and a beta of 1.16. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.05 and a quick ratio of 1.05. Bank of Nova Scotia has a 12-month low of $48.34 and a 12-month high of $60.60. The firm has a 50 day moving average price of $52.93.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Tuesday, July 2nd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend is Friday, June 28th. Bank of Nova Scotia’s dividend payout ratio is currently 47.98%.
BNS has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Barclays reiterated a “buy” rating on shares of Bank of Nova Scotia in a report on Friday, May 17th. Finally, ValuEngine upgraded Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $77.75.
About Bank of Nova Scotia
The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.
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