The Bank of Nova Scotia (NYSE:BNS) Shares Purchased by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co boosted its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,142 shares of the bank’s stock after buying an additional 2,686 shares during the quarter. Bank of Nova Scotia accounts for approximately 2.3% of DORCHESTER WEALTH MANAGEMENT Co’s holdings, making the stock its 13th biggest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Bank of Nova Scotia were worth $11,525,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank lifted its holdings 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 worth $1,361,752,000 after buying an additional 2,195,604 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of 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 worth $640,624,000 after purchasing an additional 2,346,995 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of 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 worth $551,766,000 after purchasing an additional 184,761 shares during the last quarter. Geode Capital Management LLC increased its position in shares of 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 worth $310,817,000 after purchasing an additional 524,496 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of 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 worth $298,575,000 after purchasing an additional 3,958,580 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

Shares of NYSE:BNS opened at $50.46 on Friday. 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 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 $52.04 and a 200 day simple moving average of $52.28. The company has a market cap of $62.84 billion, a PE ratio of 11.68, a P/E/G ratio of 1.16 and a beta of 1.07.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.7535 per share. This represents a $3.01 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date of this dividend was Tuesday, January 7th. Bank of Nova Scotia’s payout ratio is 68.29%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BNS. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Cibc World Mkts downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. 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. 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. Finally, CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.