The Bank of Nova Scotia (NYSE:BNS) Shares Sold by Marathon Asset Management Ltd

Marathon Asset Management Ltd reduced its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 3.1% in the fourth quarter, HoldingsChannel reports. The fund owned 908,915 shares of the bank’s stock after selling 28,662 shares during the quarter. Bank of Nova Scotia makes up 1.4% of Marathon Asset Management Ltd’s holdings, making the stock its 22nd largest holding. Marathon Asset Management Ltd’s holdings in Bank of Nova Scotia were worth $48,807,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Allworth Financial LP lifted its stake in shares of Bank of Nova Scotia by 121.1% in the 4th quarter. Allworth Financial LP now owns 639 shares of the bank’s stock worth $33,000 after acquiring an additional 350 shares during the period. BNP Paribas Financial Markets lifted its stake in Bank of Nova Scotia by 1,588.2% during the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock valued at $47,000 after purchasing an additional 810 shares during the last quarter. Fortitude Family Office LLC bought a new stake in Bank of Nova Scotia during the fourth quarter worth approximately $73,000. Wilmington Savings Fund Society FSB acquired a new position in Bank of Nova Scotia in the third quarter worth approximately $111,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Bank of Nova Scotia by 11.9% in the third quarter. Farther Finance Advisors LLC now owns 2,713 shares of the bank’s stock valued at $148,000 after buying an additional 288 shares in the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Price Performance

BNS opened at $49.61 on Monday. The Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month high of $57.07. 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 firm has a market capitalization of $61.79 billion, a P/E ratio of 11.48, a PEG ratio of 1.16 and a beta of 1.07. The stock has a fifty day moving average of $51.64 and a 200-day moving average of $52.48.

Bank of Nova Scotia Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.7415 per share. This represents a $2.97 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 82.20%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Royal Bank of Canada decreased their target price 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. TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Barclays raised shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 21st. 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. Finally, Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. One 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’s stock. Based on data from MarketBeat, Bank of Nova Scotia presently has a consensus rating of “Hold” and a consensus target price of $75.50.

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.