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

Headlands Technologies LLC reduced its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 92.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,439 shares of the bank’s stock after selling 31,699 shares during the period. Headlands Technologies LLC’s holdings in Bank of Nova Scotia were worth $131,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BNS. Murphy & Mullick Capital Management Corp purchased a new position in shares of Bank of Nova Scotia during the 4th quarter valued at $25,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Bank of Nova Scotia in the fourth quarter valued at about $31,000. Allworth Financial LP boosted its stake in shares of Bank of Nova Scotia by 121.1% in the fourth 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 boosted its stake in shares of 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 worth $47,000 after acquiring an additional 810 shares during the period. Finally, Fortitude Family Office LLC bought a new stake in Bank of Nova Scotia during the 4th quarter valued at approximately $73,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Bank of Nova Scotia Trading Down 3.0 %

Shares of BNS opened at $46.92 on Friday. The stock has a market capitalization of $58.44 billion, a PE ratio of 10.86, a P/E/G ratio of 1.16 and a beta of 1.02. The company’s fifty day moving average is $49.45 and its 200 day moving average is $52.16. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The Bank of Nova Scotia has a fifty-two week low of $43.68 and a fifty-two week high of $57.07.

Bank of Nova Scotia Cuts Dividend

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