The Bank of Nova Scotia (NYSE:BNS) is Gold Investment Management Ltd.’s 3rd Largest Position

Gold Investment Management Ltd. increased its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,028 shares of the bank’s stock after purchasing an additional 2,693 shares during the quarter. Bank of Nova Scotia accounts for approximately 3.0% of Gold Investment Management Ltd.’s investment portfolio, making the stock its 3rd largest holding. Gold Investment Management Ltd.’s holdings in Bank of Nova Scotia were worth $7,088,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ninepoint Partners LP purchased a new stake in Bank of Nova Scotia in the fourth quarter valued at $2,974,000. Natixis Advisors LLC boosted its stake in shares of Bank of Nova Scotia by 79.9% in the fourth quarter. Natixis Advisors LLC now owns 92,201 shares of the bank’s stock worth $4,953,000 after buying an additional 40,961 shares during the last quarter. First National Trust Co grew its holdings in Bank of Nova Scotia by 208.4% during the fourth quarter. First National Trust Co now owns 28,739 shares of the bank’s stock worth $1,544,000 after acquiring an additional 19,421 shares during the period. Aviso Financial Inc. raised its position in Bank of Nova Scotia by 11.6% during the fourth quarter. Aviso Financial Inc. now owns 347,013 shares of the bank’s stock valued at $18,630,000 after acquiring an additional 36,128 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in Bank of Nova Scotia by 3.2% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 160,686 shares of the bank’s stock valued at $8,661,000 after acquiring an additional 5,000 shares during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BNS shares. Royal Bank of Canada dropped their price objective on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Barclays raised shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $75.50.

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock opened at $47.98 on Monday. The stock has a market capitalization of $59.77 billion, a P/E ratio of 11.11, a PEG ratio of 1.16 and a beta of 1.11. The business has a 50 day simple moving average of $50.53 and a two-hundred day simple moving average of $52.49. The Bank of Nova Scotia has a 12 month low of $43.68 and a 12 month high of $57.07. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 6.18%. Bank of Nova Scotia’s payout ratio is currently 82.77%.

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.