The Bank of Nova Scotia (NYSE:BNS) Shares Acquired by Callahan Advisors LLC

Callahan Advisors LLC increased its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 36.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,420 shares of the bank’s stock after acquiring an additional 1,720 shares during the quarter. Callahan Advisors LLC’s holdings in Bank of Nova Scotia were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of BNS. Allworth Financial LP boosted its holdings in Bank of Nova Scotia by 121.1% in the 4th quarter. Allworth Financial LP now owns 639 shares of the bank’s stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Bank of Nova Scotia by 1,588.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock valued at $47,000 after buying an additional 810 shares during the period. Fortitude Family Office LLC acquired a new position in Bank of Nova Scotia in the fourth quarter valued at approximately $73,000. Blue Trust Inc. grew its position in Bank of Nova Scotia by 171.6% in the third quarter. Blue Trust Inc. now owns 1,578 shares of the bank’s stock worth $86,000 after acquiring an additional 997 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Bank of Nova Scotia in the third quarter worth approximately $111,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Down 0.5 %

NYSE BNS opened at $50.96 on Wednesday. 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 firm has a market cap of $63.46 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.15 and a beta of 1.07. The firm has a 50 day simple moving average of $52.32 and a 200-day simple moving average of $52.21. The Bank of Nova Scotia has a one year low of $43.67 and a one year high of $57.07.

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 given a $0.7535 dividend. The ex-dividend date was Tuesday, January 7th. This represents a $3.01 annualized dividend and a yield of 5.92%. Bank of Nova Scotia’s dividend payout ratio is presently 68.29%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. 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 shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. Royal Bank of Canada increased 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 note on Wednesday, December 4th. TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Bank of America raised shares of 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 given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of Nova Scotia presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Bank of Nova Scotia Company 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.