AGF Management Ltd. Has $21.33 Million Position in The Bank of Nova Scotia (NYSE:BNS)

AGF Management Ltd. lowered its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 397,097 shares of the bank’s stock after selling 4,082 shares during the quarter. AGF Management Ltd.’s holdings in Bank of Nova Scotia were worth $21,332,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Sigma Planning Corp increased its holdings in shares of Bank of Nova Scotia by 1.9% in the third quarter. Sigma Planning Corp now owns 11,089 shares of the bank’s stock worth $604,000 after acquiring an additional 210 shares in the last quarter. Addison Advisors LLC lifted its position in shares of Bank of Nova Scotia by 7.3% in the third 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. Cumberland Partners Ltd lifted its position in shares of Bank of Nova Scotia by 0.6% in the third quarter. Cumberland Partners Ltd now owns 76,030 shares of the bank’s stock valued at $4,147,000 after buying an additional 451 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in Bank of Nova Scotia during the 3rd quarter worth approximately $179,000. Finally, CIBC Asset Management Inc lifted its holdings in Bank of Nova Scotia by 2.4% during the 3rd 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. Institutional investors and hedge funds own 49.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BNS shares. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. CIBC reiterated a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. UBS Group upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $75.50.

Bank of Nova Scotia Stock Down 0.5 %

Shares of NYSE BNS opened at $47.57 on Wednesday. The company has a 50-day moving average of $50.89 and a 200 day moving average of $52.52. 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 Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month high of $57.07. The stock has a market cap of $59.24 billion, a PE ratio of 11.01, a P/E/G ratio of 1.16 and a beta of 1.11.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. This represents a $2.97 dividend on an annualized basis and a yield of 6.24%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s payout ratio is currently 82.77%.

Bank of Nova Scotia 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.