Dixon Mitchell Investment Counsel Inc. Sells 2,166 Shares of The Bank of Nova Scotia (NYSE:BNS)

Dixon Mitchell Investment Counsel Inc. trimmed its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 740,975 shares of the bank’s stock after selling 2,166 shares during the quarter. Bank of Nova Scotia accounts for 1.8% of Dixon Mitchell Investment Counsel Inc.’s portfolio, making the stock its 24th biggest holding. Dixon Mitchell Investment Counsel Inc. owned about 0.06% of Bank of Nova Scotia worth $39,790,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of BNS. BNP Paribas Financial Markets lifted 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 worth $57,000. Fortitude Family Office LLC bought a new position in shares of Bank of Nova Scotia during the fourth quarter valued at $73,000. Blue Trust Inc. raised its position in Bank of Nova Scotia by 171.6% in 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 last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Bank of Nova Scotia during the 3rd quarter valued at about $111,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analyst Upgrades and Downgrades

BNS has been the subject of several research reports. Royal Bank of Canada boosted their price objective on shares of Bank of Nova Scotia from $65.00 to $74.00 and gave the company a “sector perform” rating in a report on Wednesday, December 4th. Cibc World Mkts upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th. Bank of America upgraded Bank of Nova Scotia from a “neutral” 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 research report on Tuesday, November 19th. Finally, TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Bank of Nova Scotia currently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Bank of Nova Scotia Trading Down 3.3 %

NYSE:BNS opened at $50.07 on Thursday. The Bank of Nova Scotia has a one year low of $43.67 and a one year high of $57.07. The business has a fifty day moving average price of $54.40 and a 200-day moving average price of $51.33. The firm has a market capitalization of $62.36 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th will be paid a $0.7535 dividend. This represents a $3.01 annualized dividend and a dividend yield of 6.02%. The ex-dividend date of this dividend is Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio (DPR) 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.