Callahan Advisors LLC Increases Stake in The Bank of Nova Scotia (NYSE:BNS)

Callahan Advisors LLC boosted its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 36.6% during the 4th quarter, Holdings Channel reports. The fund owned 6,420 shares of the bank’s stock after acquiring an additional 1,720 shares during the quarter. Callahan Advisors LLC’s holdings in Bank of Nova Scotia were worth $345,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BNS. Magnus Financial Group LLC increased its position in shares of Bank of Nova Scotia by 4.1% in the 4th quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank’s stock valued at $274,000 after purchasing an additional 200 shares during the last quarter. Sigma Planning Corp lifted its holdings in Bank of Nova Scotia by 1.9% during the 3rd quarter. Sigma Planning Corp now owns 11,089 shares of the bank’s stock worth $604,000 after buying an additional 210 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Bank of Nova Scotia by 1.2% in the 3rd quarter. Signaturefd LLC now owns 18,470 shares of the bank’s stock valued at $1,006,000 after acquiring an additional 216 shares during the last quarter. Addison Advisors LLC raised its position in shares of Bank of Nova Scotia by 7.3% during the 3rd quarter. Addison Advisors LLC now owns 3,357 shares of the bank’s stock worth $183,000 after acquiring an additional 227 shares in the last quarter. Finally, Merit Financial Group LLC lifted its stake in Bank of Nova Scotia by 5.8% during the fourth quarter. Merit Financial Group LLC now owns 4,905 shares of the bank’s stock worth $264,000 after purchasing an additional 271 shares during the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

Shares of BNS opened at $50.96 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The Bank of Nova Scotia has a fifty-two week low of $43.67 and a fifty-two week high of $57.07. The firm has a 50-day simple moving average of $52.32 and a 200-day simple moving average of $52.21. The company has a market capitalization of $63.46 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 1.15 and a beta of 1.07.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th were paid a $0.7535 dividend. The ex-dividend date was Tuesday, January 7th. This represents a $3.01 annualized dividend and a dividend yield of 5.92%. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 68.29%.

Analyst Ratings Changes

BNS has been the topic of several recent analyst reports. Barclays upgraded shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. CIBC reiterated a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada boosted their target price on Bank of Nova Scotia from $65.00 to $74.00 and gave the company a “sector perform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

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.