The Bank of Nova Scotia (NYSE:BNS) Shares Acquired by Galibier Capital Management Ltd.

Galibier Capital Management Ltd. lifted its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 38,283.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 476,721 shares of the bank’s stock after acquiring an additional 475,479 shares during the quarter. Bank of Nova Scotia accounts for 7.3% of Galibier Capital Management Ltd.’s investment portfolio, making the stock its 3rd largest position. Galibier Capital Management Ltd.’s holdings in Bank of Nova Scotia were worth $25,586,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in Bank of Nova Scotia by 1,588.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock valued at $47,000 after acquiring an additional 810 shares in the last quarter. City State Bank purchased a new position in shares of Bank of Nova Scotia in the third quarter valued at approximately $57,000. Fortitude Family Office LLC acquired a new position in shares of Bank of Nova Scotia in the fourth quarter valued at approximately $73,000. Blue Trust Inc. increased its stake in Bank of Nova Scotia by 171.6% during the 3rd quarter. Blue Trust Inc. now owns 1,578 shares of the bank’s stock worth $86,000 after buying an additional 997 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Bank of Nova Scotia during the 3rd quarter worth approximately $111,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. Cibc World Mkts raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Finally, TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Bank of Nova Scotia Trading Down 1.6 %

NYSE:BNS opened at $50.86 on Friday. 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 1 year low of $43.67 and a 1 year high of $57.07. The stock has a market cap of $63.34 billion, a P/E ratio of 11.77, a P/E/G ratio of 1.16 and a beta of 1.08. The stock has a 50-day simple moving average of $54.32 and a 200-day simple moving average of $51.33.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th will be paid a $0.7535 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.01 annualized dividend and a yield of 5.93%. Bank of Nova Scotia’s dividend payout ratio is currently 68.29%.

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.