Scheer Rowlett & Associates Investment Management Ltd. Reduces Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

Scheer Rowlett & Associates Investment Management Ltd. lessened its holdings in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 4.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,396,185 shares of the bank's stock after selling 72,485 shares during the period. Bank of Nova Scotia accounts for approximately 5.5% of Scheer Rowlett & Associates Investment Management Ltd.'s portfolio, making the stock its 5th largest holding. Scheer Rowlett & Associates Investment Management Ltd. owned approximately 0.11% of Bank of Nova Scotia worth $74,878,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Bank of Nova Scotia during the 4th quarter worth about $31,000. Allworth Financial LP grew its stake in Bank of Nova Scotia by 121.1% in the 4th quarter. Allworth Financial LP now owns 639 shares of the bank's stock worth $33,000 after acquiring an additional 350 shares during the period. BNP Paribas Financial Markets raised its holdings in Bank of Nova Scotia by 1,588.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank's stock valued at $47,000 after acquiring an additional 810 shares during the last quarter. Fortitude Family Office LLC purchased a new position in Bank of Nova Scotia during the fourth quarter worth about $73,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Bank of Nova Scotia in the third quarter worth approximately $111,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BNS shares. Cibc World Mkts downgraded Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Bank of America upgraded shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Tuesday, November 19th. CIBC reiterated a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Royal Bank of Canada reduced their price objective on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. Finally, UBS Group raised Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $75.50.

Bank of Nova Scotia Trading Up 0.1 %

Shares of NYSE BNS traded up $0.06 during mid-day trading on Wednesday, hitting $47.59. 1,341,424 shares of the company traded hands, compared to its average volume of 1,837,840. 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 1 year low of $43.67 and a 1 year high of $57.07. The stock has a market capitalization of $59.28 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.16 and a beta of 1.11. The business has a 50 day moving average of $50.89 and a two-hundred day moving average of $52.52.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.7415 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 annualized dividend and a yield of 6.23%. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 82.77%.

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.