Hillsdale Investment Management Inc. Raises Holdings in The Bank of Nova Scotia (NYSE:BNS)

Hillsdale Investment Management Inc. boosted its position in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 370.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 883,511 shares of the bank's stock after buying an additional 695,519 shares during the period. Bank of Nova Scotia makes up approximately 2.4% of Hillsdale Investment Management Inc.'s investment portfolio, making the stock its 9th largest position. Hillsdale Investment Management Inc. owned about 0.07% of Bank of Nova Scotia worth $47,391,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BNS. Toronto Dominion Bank lifted its stake in shares of Bank of Nova Scotia by 9.6% in the third quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank's stock worth $1,361,752,000 after acquiring an additional 2,195,604 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Bank of Nova Scotia by 24.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank's stock worth $640,624,000 after buying an additional 2,346,995 shares in the last quarter. CIBC Asset Management Inc increased its stake in Bank of Nova Scotia by 1.8% in the 4th quarter. CIBC Asset Management Inc now owns 10,259,279 shares of the bank's stock valued at $551,766,000 after buying an additional 184,761 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Bank of Nova Scotia by 5.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,096,123 shares of the bank's stock valued at $434,196,000 after purchasing an additional 385,333 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Bank of Nova Scotia by 10.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank's stock valued at $310,817,000 after acquiring an additional 524,496 shares during the period. 49.13% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Several equities research analysts have commented on BNS shares. Cibc World Mkts downgraded shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. CIBC reaffirmed a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Finally, Royal Bank of Canada lowered 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 report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Bank of Nova Scotia currently has an average rating of "Hold" and an average target price of $81.00.

Bank of Nova Scotia Stock Up 0.0 %

Shares of NYSE BNS traded up $0.01 during midday trading on Wednesday, hitting $48.76. The stock had a trading volume of 1,123,969 shares, compared to its average volume of 1,622,026. The company has a market cap of $60.73 billion, a P/E ratio of 11.29, a PEG ratio of 1.16 and a beta of 1.11. 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 52 week low of $43.68 and a 52 week high of $57.07. The business's 50 day moving average is $49.99 and its 200-day moving average is $52.37.

Bank of Nova Scotia Cuts Dividend

The company 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 dividend of $0.7415 per share. This represents a $2.97 annualized dividend and a yield of 6.08%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio is presently 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.