Triasima Portfolio Management inc. Lowers Holdings in Bank of Nova Scotia (The) (NYSE:BNS)

Triasima Portfolio Management inc. cut its position in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 38.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 158,171 shares of the bank's stock after selling 97,750 shares during the period. Bank of Nova Scotia comprises 1.5% of Triasima Portfolio Management inc.'s portfolio, making the stock its 18th biggest position. Triasima Portfolio Management inc.'s holdings in Bank of Nova Scotia were worth $7,498,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BNS. Vanguard Group Inc. raised its position in shares of Bank of Nova Scotia by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank's stock worth $2,758,150,000 after acquiring an additional 969,488 shares in the last quarter. Toronto Dominion Bank raised its position in shares of Bank of Nova Scotia by 1.7% in the 4th quarter. Toronto Dominion Bank now owns 25,425,639 shares of the bank's stock worth $1,363,619,000 after acquiring an additional 434,771 shares in the last quarter. TD Asset Management Inc. raised its position in shares of Bank of Nova Scotia by 1.7% in the 4th quarter. TD Asset Management Inc. now owns 18,966,078 shares of the bank's stock worth $1,017,933,000 after acquiring an additional 308,837 shares in the last quarter. Norges Bank bought a new position in shares of Bank of Nova Scotia in the 4th quarter worth $690,746,000. Finally, Geode Capital Management LLC raised its position in shares of Bank of Nova Scotia by 31.8% in the 4th quarter. Geode Capital Management LLC now owns 7,433,171 shares of the bank's stock worth $406,103,000 after acquiring an additional 1,792,700 shares in the last quarter. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Stock Performance

Bank of Nova Scotia stock traded up $0.14 during trading hours on Friday, hitting $55.19. 939,679 shares of the stock traded hands, compared to its average volume of 1,778,698. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03. The firm's 50 day moving average price is $53.71 and its 200-day moving average price is $50.95. The stock has a market capitalization of $68.62 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 1.39 and a beta of 1.12. Bank of Nova Scotia has a 1 year low of $43.68 and a 1 year high of $57.07.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last posted its quarterly earnings results on Tuesday, May 27th. The bank reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.08). The firm had revenue of $6.59 billion for the quarter, compared to analysts' expectations of $8.98 billion. Bank of Nova Scotia had a net margin of 8.83% and a return on equity of 11.27%. The firm's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.58 EPS. As a group, equities analysts expect that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 2nd will be paid a dividend of $0.7996 per share. This represents a $3.20 annualized dividend and a yield of 5.80%. The ex-dividend date is Wednesday, July 2nd. This is an increase from Bank of Nova Scotia's previous quarterly dividend of $0.74. Bank of Nova Scotia's payout ratio is presently 94.72%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Wall Street Zen lowered Bank of Nova Scotia from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Bank of America lowered Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Bank of Nova Scotia presently has a consensus rating of "Hold" and a consensus price target of $81.00.

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.