The Bank of Nova Scotia (NYSE:BNS) Shares Bought by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. lifted its holdings in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 44.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,100 shares of the bank's stock after buying an additional 19,795 shares during the quarter. Bank of Nova Scotia makes up approximately 1.2% of PCJ Investment Counsel Ltd.'s investment portfolio, making the stock its 22nd largest position. PCJ Investment Counsel Ltd.'s holdings in Bank of Nova Scotia were worth $3,438,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Toronto Dominion Bank raised its stake in Bank of Nova Scotia by 9.6% in the 3rd quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank's stock valued at $1,361,752,000 after purchasing an additional 2,195,604 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Bank of Nova Scotia by 24.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank's stock valued at $640,624,000 after purchasing an additional 2,346,995 shares during the last quarter. CIBC Asset Management Inc raised its stake in Bank of Nova Scotia by 1.8% in the 4th quarter. CIBC Asset Management Inc now owns 10,259,279 shares of the bank's stock valued at $551,766,000 after purchasing an additional 184,761 shares during the last quarter. Geode Capital Management LLC raised its stake in Bank of Nova Scotia by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank's stock valued at $310,817,000 after purchasing an additional 524,496 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Bank of Nova Scotia by 260.1% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank's stock valued at $298,575,000 after purchasing an additional 3,958,580 shares during the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

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Bank of Nova Scotia Trading Up 0.1 %

Shares of NYSE:BNS traded up $0.06 during midday trading on Wednesday, reaching $47.59. 1,341,424 shares of the company's stock were exchanged, compared to its average volume of 1,837,840. The firm's 50 day simple moving average is $50.89 and its two-hundred day simple moving average is $52.52. 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 stock has a market cap of $59.28 billion, a price-to-earnings ratio of 11.02, a P/E/G ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a fifty-two week low of $43.67 and a fifty-two week high of $57.07.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.23%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia's payout ratio is 82.77%.

Wall Street Analyst Weigh In

Several research firms recently commented on BNS. Bank of America raised Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research note on Tuesday, November 19th. CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Royal Bank of Canada dropped their target price on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group upgraded Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Bank of Nova Scotia presently has an average rating of "Hold" and a consensus target price of $75.50.

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.