The Bank of Nova Scotia (NYSE:BNS) Holdings Decreased by Addenda Capital Inc.

Addenda Capital Inc. reduced its stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 16.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 987,155 shares of the bank's stock after selling 188,091 shares during the period. Bank of Nova Scotia makes up approximately 2.2% of Addenda Capital Inc.'s portfolio, making the stock its 11th biggest position. Addenda Capital Inc. owned about 0.08% of Bank of Nova Scotia worth $46,821,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of BNS. Bank of New York Mellon Corp grew its position in shares of Bank of Nova Scotia by 7.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,095,285 shares of the bank's stock worth $58,839,000 after buying an additional 77,820 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in shares of Bank of Nova Scotia during the fourth quarter worth about $292,000. Blue Trust Inc. grew its position in shares of Bank of Nova Scotia by 98.6% during the fourth quarter. Blue Trust Inc. now owns 3,134 shares of the bank's stock worth $171,000 after buying an additional 1,556 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Bank of Nova Scotia by 11.8% during the fourth quarter. HighTower Advisors LLC now owns 11,438 shares of the bank's stock worth $614,000 after buying an additional 1,207 shares in the last quarter. Finally, Savant Capital LLC acquired a new position in shares of Bank of Nova Scotia during the fourth quarter worth about $219,000. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock traded up $0.32 during midday trading on Thursday, reaching $53.75. 603,613 shares of the company were exchanged, compared to its average volume of 1,693,732. The company has a market capitalization of $66.95 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 1.16 and a beta of 1.13. The firm's 50-day simple moving average is $49.41 and its 200-day simple moving average is $51.09. The Bank of Nova Scotia has a 1 year low of $43.68 and a 1 year high of $57.07. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last posted its quarterly earnings data on Tuesday, May 27th. The bank reported $1.06 EPS for the quarter, missing analysts' consensus estimates of $1.14 by ($0.08). The company had revenue of $6.59 billion for the quarter, compared to analysts' expectations of $8.98 billion. Bank of Nova Scotia had a return on equity of 11.56% and a net margin of 10.20%. The company'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 EPS. On average, analysts anticipate that The Bank of Nova Scotia will post 4.91 EPS for the current year.

Bank of Nova Scotia Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 2nd will be issued a $0.7996 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.95%. This is an increase from Bank of Nova Scotia's previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Wednesday, July 2nd. Bank of Nova Scotia's payout ratio is 89.44%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Cibc World Mkts downgraded Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Wall Street Zen raised Bank of Nova Scotia from a "sell" rating to a "hold" rating in a report on Friday, May 30th. CIBC reaffirmed a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Bank of America downgraded Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. Finally, Royal Bank of Canada lowered their price target on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $81.00.

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.