UniSuper Management Pty Ltd Cuts Stock Position in The Bank of Nova Scotia (NYSE:BNS)

UniSuper Management Pty Ltd decreased its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 19.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,700 shares of the bank’s stock after selling 5,700 shares during the period. UniSuper Management Pty Ltd’s holdings in Bank of Nova Scotia were worth $1,273,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of BNS. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Bank of Nova Scotia during the 4th quarter valued at $25,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Bank of Nova Scotia during the 4th quarter valued at about $31,000. Allworth Financial LP raised its stake in 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 buying an additional 350 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Bank of Nova Scotia by 1,588.2% in the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock valued at $47,000 after buying an additional 810 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in shares of Bank of Nova Scotia during the fourth quarter worth about $73,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Royal Bank of Canada decreased their price objective on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Bank of America downgraded shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research note on Monday. Finally, Cibc World Mkts downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. One equities 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $81.00.

Bank of Nova Scotia Stock Performance

Shares of NYSE BNS opened at $47.44 on Tuesday. The stock has a market cap of $59.08 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a 12 month low of $43.68 and a 12 month high of $57.07. The company has a 50 day simple moving average of $49.80 and a two-hundred day simple moving average of $52.30. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 6.25%. Bank of Nova Scotia’s dividend payout ratio is presently 82.77%.

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.