Dynamic Advisor Solutions LLC Sells 5,111 Shares of The Bank of Nova Scotia (NYSE:BNS)

Dynamic Advisor Solutions LLC reduced its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 55.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,038 shares of the bank's stock after selling 5,111 shares during the period. Dynamic Advisor Solutions LLC's holdings in Bank of Nova Scotia were worth $217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its holdings in Bank of Nova Scotia by 17.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank's stock valued at $241,981,000 after acquiring an additional 660,097 shares during the period. Intact Investment Management Inc. increased its stake in shares of Bank of Nova Scotia by 48.3% in the third quarter. Intact Investment Management Inc. now owns 1,563,594 shares of the bank's stock worth $85,201,000 after buying an additional 509,120 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Bank of Nova Scotia by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,744,062 shares of the bank's stock valued at $204,214,000 after buying an additional 150,247 shares during the last quarter. Citigroup Inc. raised its holdings in Bank of Nova Scotia by 12.3% during the 3rd quarter. Citigroup Inc. now owns 580,664 shares of the bank's stock valued at $31,673,000 after buying an additional 63,528 shares during the last quarter. Finally, Pathway Financial Advisers LLC grew its holdings in Bank of Nova Scotia by 5,380.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank's stock worth $216,447,000 after acquiring an additional 3,899,760 shares during the last quarter. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BNS. UBS Group raised shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research note on Monday, November 18th. Royal Bank of Canada upped their target price on Bank of Nova Scotia from $65.00 to $74.00 and gave the company a "sector perform" rating in a report on Wednesday, December 4th. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. TD Securities upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Finally, Bank of America raised shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.00.

Bank of Nova Scotia Stock Down 1.2 %

Shares of BNS stock traded down $0.63 during mid-day trading on Friday, reaching $51.24. 1,677,756 shares of the company's stock traded hands, compared to its average volume of 1,938,357. The company's 50-day moving average price is $53.60 and its 200-day moving average price is $51.76. The company has a market cap of $63.81 billion, a P/E ratio of 11.86, a P/E/G ratio of 1.17 and a beta of 1.08. 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 Bank of Nova Scotia has a 12 month low of $43.67 and a 12 month high of $57.07.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th were paid a dividend of $0.7535 per share. This represents a $3.01 annualized dividend and a yield of 5.88%. The ex-dividend date was Tuesday, January 7th. Bank of Nova Scotia's payout ratio is currently 68.29%.

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.