Galibier Capital Management Ltd. Boosts Stake in The Bank of Nova Scotia (NYSE:BNS)

Galibier Capital Management Ltd. lifted its position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 38,283.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 476,721 shares of the bank's stock after buying an additional 475,479 shares during the period. Bank of Nova Scotia comprises 7.3% of Galibier Capital Management Ltd.'s holdings, making the stock its 3rd largest position. Galibier Capital Management Ltd.'s holdings in Bank of Nova Scotia were worth $25,586,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Merit Financial Group LLC boosted its holdings 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 buying an additional 271 shares during the period. Avanza Fonder AB acquired a new position in Bank of Nova Scotia during the fourth quarter worth $4,394,000. Ritholtz Wealth Management grew its position in Bank of Nova Scotia by 55.2% in the fourth quarter. Ritholtz Wealth Management now owns 9,451 shares of the bank's stock valued at $508,000 after purchasing an additional 3,360 shares in the last quarter. Advisors Management Group Inc. ADV increased its stake in Bank of Nova Scotia by 0.7% in the 4th quarter. Advisors Management Group Inc. ADV now owns 51,086 shares of the bank's stock valued at $2,744,000 after buying an additional 370 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new stake in Bank of Nova Scotia during the 4th quarter worth about $73,000. Institutional investors and hedge funds own 49.13% of the company's stock.

Bank of Nova Scotia Stock Performance

Bank of Nova Scotia stock traded down $0.84 during mid-day trading on Friday, hitting $50.86. 2,218,248 shares of the company's stock traded hands, compared to its average volume of 1,503,873. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $54.26 and a two-hundred day simple moving average of $51.41. The Bank of Nova Scotia has a fifty-two week low of $43.67 and a fifty-two week high of $57.07. The stock has a market cap of $63.34 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 1.16 and a beta of 1.08.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.7535 per share. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.93%. Bank of Nova Scotia's dividend payout ratio (DPR) is currently 68.29%.

Wall Street Analysts Forecast Growth

BNS has been the topic of a number of recent research reports. Canaccord Genuity Group raised Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. Royal Bank of Canada upped their price objective on Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a "sector perform" rating in a research note on Wednesday, December 4th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. UBS Group raised shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Monday, November 18th. Finally, Bank of America raised shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.00.

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.