The Bank of Nova Scotia (NYSE:BNS) is Louisbourg Investments Inc.'s 4th Largest Position

Louisbourg Investments Inc. trimmed its stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 211,809 shares of the bank's stock after selling 5,304 shares during the quarter. Bank of Nova Scotia makes up 2.7% of Louisbourg Investments Inc.'s holdings, making the stock its 4th biggest position. Louisbourg Investments Inc.'s holdings in Bank of Nova Scotia were worth $11,368,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Magnus Financial Group LLC boosted its stake in Bank of Nova Scotia by 4.1% in the fourth quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank's stock valued at $274,000 after acquiring an additional 200 shares during the last quarter. Sigma Planning Corp raised its position in shares of Bank of Nova Scotia by 1.9% in the third quarter. Sigma Planning Corp now owns 11,089 shares of the bank's stock valued at $604,000 after purchasing an additional 210 shares during the period. Signaturefd LLC raised its position in shares of Bank of Nova Scotia by 1.2% in the third quarter. Signaturefd LLC now owns 18,470 shares of the bank's stock valued at $1,006,000 after purchasing an additional 216 shares during the period. Addison Advisors LLC raised its position in shares of Bank of Nova Scotia by 7.3% in the third quarter. Addison Advisors LLC now owns 3,357 shares of the bank's stock valued at $183,000 after purchasing an additional 227 shares during the period. Finally, Merit Financial Group LLC raised its position in shares of Bank of Nova Scotia by 5.8% in the fourth quarter. Merit Financial Group LLC now owns 4,905 shares of the bank's stock valued at $264,000 after purchasing an additional 271 shares during the period. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BNS. Barclays raised shares of Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a research report on Thursday, November 21st. TD Securities raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. UBS Group raised shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a report on Monday, November 18th. Finally, Canaccord Genuity Group raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.00.

Bank of Nova Scotia Price Performance

Shares of NYSE:BNS traded up $0.05 during trading on Friday, reaching $51.22. The company had a trading volume of 943,636 shares, compared to its average volume of 1,659,774. The company has a fifty day moving average of $52.51 and a two-hundred day moving average of $52.05. The stock has a market capitalization of $63.80 billion, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 1.15 and a beta of 1.07. The Bank of Nova Scotia has a 12 month low of $43.67 and a 12 month high of $57.07. 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 business also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th were issued a $0.7535 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.88%. The ex-dividend date of this dividend was Tuesday, January 7th. Bank of Nova Scotia's payout ratio is 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.