Dynamic Advisor Solutions LLC Reduces Stock Position in The Bank of Nova Scotia (NYSE:BNS)

Dynamic Advisor Solutions LLC cut its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 55.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,038 shares of the bank’s stock after selling 5,111 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Bank of Nova Scotia were worth $217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sei Investments Co. bought a new position in Bank of Nova Scotia in the second quarter valued at about $648,000. Squarepoint Ops LLC bought a new position in shares of Bank of Nova Scotia in the 2nd quarter worth approximately $703,000. AQR Capital Management LLC purchased a new position in shares of Bank of Nova Scotia in the second quarter worth approximately $230,000. Scientech Research LLC bought a new stake in Bank of Nova Scotia during the second quarter valued at approximately $335,000. Finally, Pathway Financial Advisers LLC increased its holdings in Bank of Nova Scotia by 1.9% during the second quarter. Pathway Financial Advisers LLC now owns 72,474 shares of the bank’s stock valued at $3,309,000 after buying an additional 1,318 shares during the last quarter. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Price Performance

NYSE:BNS opened at $52.17 on Wednesday. The firm has a market capitalization of $64.97 billion, a price-to-earnings ratio of 12.08, a PEG 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. The business has a 50 day simple moving average of $53.96 and a 200-day simple moving average of $51.70. The Bank of Nova Scotia has a 1 year low of $43.67 and a 1 year high of $57.07.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.7535 per share. This represents a $3.01 annualized dividend and a yield of 5.78%. The ex-dividend date is Tuesday, January 7th. Bank of Nova Scotia’s payout ratio is 68.29%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BNS shares. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. UBS Group upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report 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. Finally, Barclays upgraded shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

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.