Coleford Investment Management Ltd. Makes New $11.51 Million Investment in The Bank of Nova Scotia (NYSE:BNS)

Coleford Investment Management Ltd. acquired a new position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 214,903 shares of the bank's stock, valued at approximately $11,514,000. Bank of Nova Scotia accounts for 3.0% of Coleford Investment Management Ltd.'s portfolio, making the stock its 18th largest holding.

Several other hedge funds have also modified their holdings of BNS. Murphy & Mullick Capital Management Corp acquired a new stake in Bank of Nova Scotia in the fourth quarter valued at $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Bank of Nova Scotia during the 4th quarter valued at approximately $31,000. Allworth Financial LP lifted its holdings in shares of Bank of Nova Scotia by 121.1% during 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 boosted its holdings in shares of 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 in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in shares of Bank of Nova Scotia during the fourth quarter valued at $73,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Bank of Nova Scotia Stock Up 1.4 %

NYSE:BNS traded up $0.69 during mid-day trading on Tuesday, hitting $48.15. The stock had a trading volume of 378,101 shares, compared to its average volume of 1,674,601. The stock has a 50-day simple moving average of $48.21 and a two-hundred day simple moving average of $51.48. The Bank of Nova Scotia has a twelve month low of $43.68 and a twelve month high of $57.07. The company has a market capitalization of $59.97 billion, a PE ratio of 11.15, a PEG ratio of 1.16 and a beta of 1.02. 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 declared 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 annualized dividend and a yield of 6.16%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio (DPR) is 83.05%.

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.