The Bank of Nova Scotia (NYSE:BNS) is Scheer Rowlett & Associates Investment Management Ltd.’s 5th Largest Position

Scheer Rowlett & Associates Investment Management Ltd. decreased its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 4.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,396,185 shares of the bank’s stock after selling 72,485 shares during the quarter. Bank of Nova Scotia makes up 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.’s holdings in Bank of Nova Scotia were worth $74,878,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the business. Magnus Financial Group LLC boosted its holdings in shares of Bank of Nova Scotia by 4.1% during the 4th quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank’s stock worth $274,000 after buying an additional 200 shares during the period. Sigma Planning Corp boosted its stake 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 valued at $604,000 after purchasing an additional 210 shares during the period. Private Advisor Group LLC boosted its stake in Bank of Nova Scotia by 3.5% during the 4th quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock valued at $336,000 after purchasing an additional 211 shares during the period. Addison Advisors LLC grew its holdings in Bank of Nova Scotia by 7.3% in the 3rd quarter. Addison Advisors LLC now owns 3,357 shares of the bank’s stock valued at $183,000 after buying an additional 227 shares during the last quarter. Finally, Lindbrook Capital LLC increased its position in Bank of Nova Scotia by 10.2% in the 4th quarter. Lindbrook Capital LLC now owns 2,860 shares of the bank’s stock worth $154,000 after buying an additional 264 shares during the period. Institutional investors and hedge funds own 49.13% of the company’s stock.

Analyst Ratings Changes

BNS has been the topic of several research analyst reports. 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. Cibc World Mkts cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Royal Bank of Canada reduced 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 report on Wednesday, February 26th. 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. Finally, Barclays raised shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $75.50.

Bank of Nova Scotia Stock Performance

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

Bank of Nova Scotia Cuts Dividend

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