QV Investors Inc. Lowers Stock Position in The Bank of Nova Scotia (NYSE:BNS)

QV Investors Inc. lowered its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 27.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 287,452 shares of the bank's stock after selling 108,893 shares during the period. Bank of Nova Scotia accounts for 1.3% of QV Investors Inc.'s investment portfolio, making the stock its 29th biggest holding. QV Investors Inc.'s holdings in Bank of Nova Scotia were worth $14,061,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in Bank of Nova Scotia by 135.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 919 shares of the bank's stock valued at $42,000 after buying an additional 529 shares in the last quarter. Quantbot Technologies LP purchased a new position in Bank of Nova Scotia in the 3rd quarter valued at approximately $42,000. Fifth Third Bancorp grew its stake in Bank of Nova Scotia by 71.6% in the 4th quarter. Fifth Third Bancorp now owns 858 shares of the bank's stock valued at $42,000 after buying an additional 358 shares in the last quarter. NBC Securities Inc. purchased a new position in Bank of Nova Scotia in the 3rd quarter valued at approximately $67,000. Finally, Belpointe Asset Management LLC grew its stake in Bank of Nova Scotia by 1,225.9% in the 1st quarter. Belpointe Asset Management LLC now owns 1,843 shares of the bank's stock valued at $93,000 after buying an additional 1,704 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Price Performance

NYSE:BNS traded up $0.02 during trading hours on Friday, hitting $49.96. The stock had a trading volume of 1,228,279 shares, compared to its average volume of 1,860,939. The company has a 50 day simple moving average of $48.69 and a two-hundred day simple moving average of $46.18. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.03 and a quick ratio of 1.03. The Bank of Nova Scotia has a one year low of $39.79 and a one year high of $51.98. The firm has a market capitalization of $61.06 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 1.66 and a beta of 1.04.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last posted its quarterly earnings data on Tuesday, February 27th. The bank reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.06. Bank of Nova Scotia had a net margin of 10.71% and a return on equity of 11.51%. The company had revenue of $14.13 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same period in the previous year, the firm posted $1.37 EPS. Research analysts forecast that The Bank of Nova Scotia will post 4.9 earnings per share for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Tuesday, April 2nd will be issued a dividend of $0.7843 per share. This is an increase from Bank of Nova Scotia's previous quarterly dividend of $0.78. This represents a $3.14 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date is Monday, April 1st. Bank of Nova Scotia's payout ratio is currently 34.96%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays began coverage on shares of Bank of Nova Scotia in a research note on Wednesday, March 20th. They issued an "underweight" rating and a $70.00 price objective for the company. Jefferies Financial Group began coverage on shares of Bank of Nova Scotia in a report on Thursday, February 22nd. They issued a "hold" rating for the company. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, Bank of Nova Scotia presently has an average rating of "Hold" and an average target price of $68.00.

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.