PCJ Investment Counsel Ltd. Has $2.41 Million Position in The Bank of Nova Scotia (NYSE:BNS)

PCJ Investment Counsel Ltd. trimmed its position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 21.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,305 shares of the bank's stock after selling 12,450 shares during the quarter. PCJ Investment Counsel Ltd.'s holdings in Bank of Nova Scotia were worth $2,414,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BNS. Mather Group LLC. boosted its position in Bank of Nova Scotia by 1,388.9% during the second quarter. Mather Group LLC. now owns 536 shares of the bank's stock worth $25,000 after purchasing an additional 500 shares in the last quarter. Blue Trust Inc. grew its position in Bank of Nova Scotia by 3,127.8% in the second quarter. Blue Trust Inc. now owns 581 shares of the bank's stock worth $27,000 after buying an additional 563 shares during the last quarter. City State Bank acquired a new position in Bank of Nova Scotia during the 3rd quarter worth $57,000. EverSource Wealth Advisors LLC grew its stake in Bank of Nova Scotia by 102.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,605 shares of the bank's stock worth $83,000 after buying an additional 811 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Bank of Nova Scotia during the second quarter worth about $104,000. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Stock Performance

BNS stock traded down $0.04 during midday trading on Wednesday, reaching $56.09. 667,431 shares of the company were exchanged, compared to its average volume of 1,784,001. The firm has a market capitalization of $69.80 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 1.60 and a beta of 1.05. The business has a 50-day moving average price of $53.15 and a two-hundred day moving average price of $49.25. The Bank of Nova Scotia has a one year low of $41.80 and a one year high of $56.44. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 1.02.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its quarterly earnings data 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 analyst estimates of $8.53 billion. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 EPS. Equities research analysts forecast that The Bank of Nova Scotia will post 4.79 EPS for the current year.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd were given a $0.768 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $3.07 dividend on an annualized basis and a dividend yield of 5.48%. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 74.88%.

Analyst Upgrades and Downgrades

BNS has been the subject of a number of recent analyst reports. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Tuesday. TD Securities raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. UBS Group raised Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a report on Monday. Cibc World Mkts raised Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a report on Friday, September 20th. Finally, Canaccord Genuity Group upgraded Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Bank of Nova Scotia currently has an average rating of "Moderate Buy" and a consensus target price of $69.00.

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.