The Bank of Nova Scotia (NYSE:BNS) Stake Trimmed by Lincluden Management Ltd.

Lincluden Management Ltd. decreased its holdings in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 812,416 shares of the bank's stock after selling 36,364 shares during the period. Bank of Nova Scotia makes up about 4.8% of Lincluden Management Ltd.'s holdings, making the stock its 7th largest holding. Lincluden Management Ltd. owned 0.07% of Bank of Nova Scotia worth $44,293,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Mather Group LLC. increased its holdings in shares of Bank of Nova Scotia by 1,388.9% in the second quarter. Mather Group LLC. now owns 536 shares of the bank's stock worth $25,000 after buying an additional 500 shares during the period. Blue Trust Inc. lifted its position in Bank of Nova Scotia by 3,127.8% in the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank's stock valued at $27,000 after acquiring an additional 563 shares in the last quarter. Headlands Technologies LLC bought a new position in Bank of Nova Scotia in the 1st quarter valued at approximately $53,000. City State Bank bought a new position in Bank of Nova Scotia in the 3rd quarter valued at approximately $57,000. Finally, EverSource Wealth Advisors LLC lifted its position in Bank of Nova Scotia by 102.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,605 shares of the bank's stock valued at $83,000 after acquiring an additional 811 shares in the last quarter. Institutional investors own 49.13% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Cibc World Mkts upgraded shares of Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $69.00.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock traded up $0.41 during mid-day trading on Friday, hitting $51.90. The stock had a trading volume of 996,950 shares, compared to its average volume of 1,816,971. The firm has a market capitalization of $64.23 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.66 and a beta of 1.05. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61. The firm's 50 day moving average is $52.14 and its 200 day moving average is $48.56. The Bank of Nova Scotia has a one year low of $41.46 and a one year high of $55.12.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last issued its earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.01. The company had revenue of $8.36 billion during the quarter, compared to the consensus estimate of $8.53 billion. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. Bank of Nova Scotia's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 EPS. On average, sell-side analysts forecast that The Bank of Nova Scotia will post 4.8 earnings per share for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd were issued a dividend of $0.768 per share. This represents a $3.07 annualized dividend and a dividend yield of 5.92%. The ex-dividend date was Wednesday, October 2nd. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 74.88%.

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.