The Bank of Nova Scotia (NYSE:BNS) Stock Position Lessened by Nexus Investment Management ULC

Nexus Investment Management ULC trimmed its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 3.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 698,537 shares of the bank’s stock after selling 21,705 shares during the quarter. Bank of Nova Scotia accounts for approximately 3.7% of Nexus Investment Management ULC’s investment portfolio, making the stock its 8th biggest position. Nexus Investment Management ULC’s holdings in Bank of Nova Scotia were worth $37,426,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of Bank of Nova Scotia by 8.1% in the second quarter. American Century Companies Inc. now owns 282,548 shares of the bank’s stock valued at $12,925,000 after purchasing an additional 21,215 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Bank of Nova Scotia by 45.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 61,759 shares of the bank’s stock worth $2,824,000 after buying an additional 19,407 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Bank of Nova Scotia by 12.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 23,747 shares of the bank’s stock worth $1,086,000 after buying an additional 2,563 shares in the last quarter. XTX Topco Ltd purchased a new position in Bank of Nova Scotia in the 2nd quarter valued at approximately $734,000. Finally, Intech Investment Management LLC grew its stake in shares of Bank of Nova Scotia by 97.5% in the second quarter. Intech Investment Management LLC now owns 148,110 shares of the bank’s stock worth $6,774,000 after acquiring an additional 73,128 shares in the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Down 1.6 %

Shares of NYSE BNS opened at $50.86 on Friday. The business has a 50-day moving average of $54.26 and a two-hundred day moving average of $51.37. The company has a market capitalization of $63.34 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The Bank of Nova Scotia has a 1 year low of $43.67 and a 1 year high of $57.07. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th will be issued a $0.7535 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date is Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio (DPR) is 68.29%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BNS. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. 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. Finally, Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Bank of Nova Scotia presently has an average rating of “Moderate Buy” and an average price target of $72.00.

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.