Euro Pacific Asset Management LLC Reduces Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

Euro Pacific Asset Management LLC reduced its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,533 shares of the bank’s stock after selling 3,997 shares during the period. Bank of Nova Scotia makes up 2.7% of Euro Pacific Asset Management LLC’s holdings, making the stock its 13th largest position. Euro Pacific Asset Management LLC’s holdings in Bank of Nova Scotia were worth $12,568,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BNS. Toronto Dominion Bank increased its position in shares of 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 valued at $1,361,752,000 after acquiring an additional 2,195,604 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Bank of Nova Scotia by 4.7% in the second quarter. Mackenzie Financial Corp now owns 15,091,880 shares of the bank’s stock valued at $690,438,000 after purchasing an additional 683,946 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Bank of Nova Scotia by 24.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank’s stock valued at $640,624,000 after purchasing an additional 2,346,995 shares during the period. CIBC Asset Management Inc raised its stake in shares of Bank of Nova Scotia by 2.4% in the third quarter. CIBC Asset Management Inc now owns 10,074,518 shares of the bank’s stock worth $550,729,000 after purchasing an additional 240,803 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Bank of Nova Scotia by 0.6% during the second quarter. Legal & General Group Plc now owns 9,281,724 shares of the bank’s stock worth $424,497,000 after purchasing an additional 57,796 shares during the period. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Trading Up 0.3 %

Shares of Bank of Nova Scotia stock opened at $51.88 on Friday. The firm has a 50-day simple moving average of $54.07 and a two-hundred day simple moving average of $51.54. 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 fifty-two week low of $43.67 and a fifty-two week high of $57.07. The company has a market cap of $64.61 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08.

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. The ex-dividend date is Tuesday, January 7th. This represents a $3.01 dividend on an annualized basis and a yield of 5.81%. Bank of Nova Scotia’s payout ratio is 68.29%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BNS shares. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report 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. Royal Bank of Canada boosted their target price on shares of Bank of Nova Scotia from $65.00 to $74.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 4th. UBS Group raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. Finally, TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Bank of Nova Scotia presently has an average rating of “Moderate Buy” 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.