The Bank of Nova Scotia (NYSE:BNS) Holdings Reduced by Scheer Rowlett & Associates Investment Management Ltd.

Scheer Rowlett & Associates Investment Management Ltd. decreased its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 investment portfolio, making the stock its 5th largest position. Scheer Rowlett & Associates Investment Management Ltd. owned 0.11% of Bank of Nova Scotia worth $74,878,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BNS. Barclays raised Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. Royal Bank of Canada dropped their price objective on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th. 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. Finally, 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. One 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’s stock. According to data from MarketBeat, Bank of Nova Scotia presently has a consensus rating of “Hold” and a consensus target price of $75.50.

Bank of Nova Scotia Price Performance

NYSE BNS opened at $48.33 on Friday. The Bank of Nova Scotia has a 12 month low of $43.67 and a 12 month high of $57.07. The firm has a market capitalization of $60.19 billion, a PE ratio of 11.19, a P/E/G ratio of 1.16 and a beta of 1.11. The company’s 50 day simple moving average is $51.13 and its 200 day simple moving average is $52.45. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 annualized dividend and a dividend yield of 6.14%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 82.77%.

About Bank of Nova Scotia

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.