Headlands Technologies LLC Sells 31,699 Shares of The Bank of Nova Scotia (NYSE:BNS)

Headlands Technologies LLC cut its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 92.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,439 shares of the bank’s stock after selling 31,699 shares during the quarter. Headlands Technologies LLC’s holdings in Bank of Nova Scotia were worth $131,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new stake in Bank of Nova Scotia during the 4th quarter valued at about $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Bank of Nova Scotia during the fourth quarter valued at approximately $31,000. Allworth Financial LP increased its position in shares of Bank of Nova Scotia by 121.1% during the fourth quarter. Allworth Financial LP now owns 639 shares of the bank’s stock valued at $33,000 after acquiring an additional 350 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Bank of Nova Scotia by 1,588.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock worth $47,000 after acquiring an additional 810 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new position in Bank of Nova Scotia in the 4th quarter valued at approximately $73,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BNS shares. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Bank of America lowered Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research report on Monday, March 31st. Royal Bank of Canada reduced their price target 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 note on Wednesday, February 26th. Finally, Cibc World Mkts cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $81.00.

Bank of Nova Scotia Price Performance

Shares of NYSE:BNS opened at $46.92 on Friday. The firm’s 50 day moving average price is $49.45 and its 200-day moving average price is $52.16. 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 stock has a market capitalization of $58.44 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. The Bank of Nova Scotia has a twelve month low of $43.68 and a twelve month high of $57.07.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given a $0.7415 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 annualized dividend and a yield of 6.32%. Bank of Nova Scotia’s payout ratio is presently 82.77%.

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.