The Bank of Nova Scotia (NYSE:BNS) Shares Sold by Callan Capital LLC

Callan Capital LLC lessened its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 11.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,058 shares of the bank’s stock after selling 517 shares during the period. Callan Capital LLC’s holdings in Bank of Nova Scotia were worth $218,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its stake in shares of Bank of Nova Scotia by 17.5% during the third quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank’s stock worth $241,981,000 after purchasing an additional 660,097 shares during the last quarter. Intact Investment Management Inc. increased its stake in Bank of Nova Scotia by 48.3% in the 3rd quarter. Intact Investment Management Inc. now owns 1,563,594 shares of the bank’s stock valued at $85,201,000 after buying an additional 509,120 shares during the period. Charles Schwab Investment Management Inc. raised its position in Bank of Nova Scotia by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,744,062 shares of the bank’s stock worth $204,214,000 after buying an additional 150,247 shares during the last quarter. Citigroup Inc. lifted its stake in shares of Bank of Nova Scotia by 12.3% in the 3rd quarter. Citigroup Inc. now owns 580,664 shares of the bank’s stock worth $31,673,000 after acquiring an additional 63,528 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in Bank of Nova Scotia by 2.4% in the 3rd quarter. CIBC Asset Management Inc now owns 10,074,518 shares of the bank’s stock valued at $550,729,000 after purchasing an additional 240,803 shares in the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Stock Performance

Bank of Nova Scotia stock opened at $50.46 on Monday. 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 stock has a fifty day moving average of $52.04 and a two-hundred day moving average of $52.32. The company has a market capitalization of $62.84 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.16 and a beta of 1.07.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th were issued a $0.7535 dividend. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $3.01 dividend on an annualized basis and a yield of 5.97%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 68.29%.

Wall Street Analyst Weigh In

Several brokerages have commented on BNS. Royal Bank of Canada boosted their target price on shares of Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. UBS Group raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Monday, November 18th. CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Finally, Cibc World Mkts lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $72.00.

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.