The Bank of Nova Scotia (NYSE:BNS) is Lincluden Management Ltd.’s 5th Largest Position

Lincluden Management Ltd. decreased its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 2.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 789,620 shares of the bank’s stock after selling 22,796 shares during the period. Bank of Nova Scotia accounts for 5.1% of Lincluden Management Ltd.’s investment portfolio, making the stock its 5th largest position. Lincluden Management Ltd. owned about 0.06% of Bank of Nova Scotia worth $42,401,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in BNS. Creative Planning increased its holdings in shares of Bank of Nova Scotia by 2.3% in the third quarter. Creative Planning now owns 36,568 shares of the bank’s stock worth $1,993,000 after purchasing an additional 807 shares during the period. Blue Trust Inc. grew its position in Bank of Nova Scotia by 171.6% during the third quarter. Blue Trust Inc. now owns 1,578 shares of the bank’s stock worth $86,000 after buying an additional 997 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Bank of Nova Scotia in the 3rd quarter worth about $221,000. Assenagon Asset Management S.A. raised its holdings in shares of Bank of Nova Scotia by 110.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 91,862 shares of the bank’s stock valued at $5,011,000 after acquiring an additional 48,147 shares in the last quarter. Finally, Insight Folios Inc boosted its position in shares of Bank of Nova Scotia by 8.1% during the 3rd quarter. Insight Folios Inc now owns 114,101 shares of the bank’s stock valued at $6,217,000 after acquiring an additional 8,522 shares during the last quarter. Institutional investors own 49.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. UBS Group upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Barclays raised Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note 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 given a buy rating to the company’s stock. According to MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Hold” and an average price target of $72.00.

Bank of Nova Scotia Trading Up 0.2 %

Shares of BNS opened at $50.60 on Tuesday. The Bank of Nova Scotia has a fifty-two week low of $43.67 and a fifty-two week high of $57.07. The firm has a market cap of $63.02 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.16 and a beta of 1.07. The firm has a 50 day moving average price of $51.95 and a 200-day moving average price of $52.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th were paid a $0.7535 dividend. This represents a $3.01 annualized dividend and a yield of 5.96%. The ex-dividend date was Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio is presently 68.06%.

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.