Value Partners Investments Inc. Has $6 Million Stock Position in The Bank of Nova Scotia (NYSE:BNS)

Value Partners Investments Inc. lowered its position in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 92.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,609 shares of the bank's stock after selling 1,303,233 shares during the quarter. Bank of Nova Scotia comprises 0.2% of Value Partners Investments Inc.'s investment portfolio, making the stock its 6th biggest holding. Value Partners Investments Inc.'s holdings in Bank of Nova Scotia were worth $5,996,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Galibier Capital Management Ltd. increased its stake in shares of Bank of Nova Scotia by 38,283.3% in the 4th quarter. Galibier Capital Management Ltd. now owns 476,721 shares of the bank's stock valued at $25,586,000 after acquiring an additional 475,479 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Bank of Nova Scotia by 7.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,095,285 shares of the bank's stock worth $58,839,000 after purchasing an additional 77,820 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in Bank of Nova Scotia in the 4th quarter valued at about $292,000. Blue Trust Inc. raised its stake in Bank of Nova Scotia by 98.6% during the 4th quarter. Blue Trust Inc. now owns 3,134 shares of the bank's stock worth $171,000 after buying an additional 1,556 shares during the period. Finally, HighTower Advisors LLC grew its stake in Bank of Nova Scotia by 11.8% in the fourth quarter. HighTower Advisors LLC now owns 11,438 shares of the bank's stock valued at $614,000 after acquiring an additional 1,207 shares during the period. Institutional investors and hedge funds own 49.13% of the company's stock.

Bank of Nova Scotia Stock Performance

BNS stock traded up $0.35 during midday trading on Friday, hitting $47.46. The company's stock had a trading volume of 1,308,893 shares, compared to its average volume of 1,677,421. The stock has a market cap of $59.11 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.16 and a beta of 1.02. The Bank of Nova Scotia has a 1 year low of $43.68 and a 1 year high of $57.07. 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 stock's 50-day moving average price is $48.28 and its 200 day moving average price is $51.54.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given a $0.7415 dividend. This represents a $2.97 annualized dividend and a yield of 6.25%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio is 83.05%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BNS. Bank of America cut Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. Royal Bank of Canada dropped their price target on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 26th. CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Finally, Cibc World Mkts cut Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Bank of Nova Scotia has an average rating of "Hold" and a consensus target price of $81.00.

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.