Gulf International Bank UK Ltd Sells 1,015 Shares of The Bank of Nova Scotia (NYSE:BNS)

Gulf International Bank UK Ltd lessened its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 28.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,575 shares of the bank’s stock after selling 1,015 shares during the period. Gulf International Bank UK Ltd’s holdings in Bank of Nova Scotia were worth $138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Magnus Financial Group LLC grew its position in shares of Bank of Nova Scotia by 4.1% in the 4th quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank’s stock valued at $274,000 after acquiring an additional 200 shares during the period. Sigma Planning Corp grew its position in shares of Bank of Nova Scotia by 1.9% in the 3rd quarter. Sigma Planning Corp now owns 11,089 shares of the bank’s stock valued at $604,000 after acquiring an additional 210 shares during the period. Private Advisor Group LLC grew its position in shares of Bank of Nova Scotia by 3.5% in the 4th quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock valued at $336,000 after acquiring an additional 211 shares during the period. Addison Advisors LLC grew its position in shares of Bank of Nova Scotia by 7.3% in the 3rd quarter. Addison Advisors LLC now owns 3,357 shares of the bank’s stock valued at $183,000 after acquiring an additional 227 shares during the period. Finally, Merit Financial Group LLC boosted its holdings in shares of Bank of Nova Scotia by 5.8% during the 4th quarter. Merit Financial Group LLC now owns 4,905 shares of the bank’s stock worth $264,000 after buying an additional 271 shares during the period. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

NYSE BNS opened at $49.61 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $61.79 billion, a P/E ratio of 11.48, a P/E/G ratio of 1.16 and a beta of 1.07. The Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month high of $57.07. The firm has a 50-day moving average price of $51.64 and a two-hundred day moving average price of $52.48.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio is currently 82.20%.

Analysts Set New Price Targets

A number of brokerages recently commented on BNS. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th. Royal Bank of Canada decreased their price target on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. 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. Barclays upgraded shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. Finally, Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia has an average rating of “Hold” and a consensus price target of $75.50.

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.