Triasima Portfolio Management inc. Has $7.50 Million Stock Holdings in Bank of Nova Scotia (The) (NYSE:BNS)

Triasima Portfolio Management inc. lowered its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 38.2% during the first quarter, according to the company in its most recent disclosure with the Securities and 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 largest holding. Triasima Portfolio Management inc.'s holdings in Bank of Nova Scotia were worth $7,498,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in BNS. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Bank of Nova Scotia in the fourth quarter valued at about $25,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Bank of Nova Scotia in the first quarter valued at about $52,000. Independence Bank of Kentucky raised its position in shares of Bank of Nova Scotia by 38.4% in the first quarter. Independence Bank of Kentucky now owns 1,175 shares of the bank's stock valued at $56,000 after buying an additional 326 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new position in shares of Bank of Nova Scotia in the fourth quarter valued at approximately $83,000. Finally, North Capital Inc. acquired a new position in shares of Bank of Nova Scotia in the first quarter valued at approximately $81,000. Hedge funds and other institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Stock Down 0.1%

Shares of BNS stock traded down $0.04 during trading on Thursday, hitting $55.03. 1,659,098 shares of the company were exchanged, compared to its average volume of 1,784,742. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $68.42 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.37 and a beta of 1.12. The business's 50-day simple moving average is $53.51 and its 200 day simple moving average is $50.94. Bank of Nova Scotia has a twelve month low of $43.68 and a twelve month 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 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.08). The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $8.98 billion. Bank of Nova Scotia had a return on equity of 11.27% and a net margin of 8.83%. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.58 earnings per share. As a group, analysts forecast that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Investors of record on Wednesday, July 2nd will be issued a dividend of $0.7996 per share. This is a boost from Bank of Nova Scotia's previous quarterly dividend of $0.74. This represents a $3.20 annualized dividend and a dividend yield of 5.81%. The ex-dividend date of this dividend is Wednesday, July 2nd. Bank of Nova Scotia's dividend payout ratio (DPR) is currently 94.72%.

Analyst Upgrades and Downgrades

BNS has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Bank of Nova Scotia from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Bank of America downgraded shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently 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.