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

DORCHESTER WEALTH MANAGEMENT Co raised its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.3% in the fourth quarter, HoldingsChannel reports. The firm owned 216,142 shares of the bank’s stock after acquiring an additional 2,686 shares during the period. Bank of Nova Scotia makes up 2.3% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 13th largest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Bank of Nova Scotia were worth $11,525,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in Bank of Nova Scotia by 17.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank’s stock valued at $241,981,000 after purchasing an additional 660,097 shares during the period. Intact Investment Management Inc. lifted its stake in shares of Bank of Nova Scotia by 48.3% in the 3rd quarter. Intact Investment Management Inc. now owns 1,563,594 shares of the bank’s stock worth $85,201,000 after acquiring an additional 509,120 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Bank of Nova Scotia by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,744,062 shares of the bank’s stock worth $204,214,000 after acquiring an additional 150,247 shares during the period. Citigroup Inc. lifted its stake in shares of Bank of Nova Scotia by 12.3% in the 3rd quarter. Citigroup Inc. now owns 580,664 shares of the bank’s stock worth $31,673,000 after acquiring an additional 63,528 shares during the period. Finally, Pathway Financial Advisers LLC lifted its stake in shares of Bank of Nova Scotia by 5,380.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank’s stock worth $216,447,000 after acquiring an additional 3,899,760 shares during the period. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Down 1.3 %

BNS stock opened at $50.46 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 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. 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 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 announced a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th were paid a dividend of $0.7535 per share. This represents a $3.01 annualized dividend and a yield of 5.97%. The ex-dividend date was Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio is presently 68.29%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BNS shares. Royal Bank of Canada upped their price target on shares of Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 4th. 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 reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, UBS Group raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Monday, November 18th. One equities research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.