The Bank of Nova Scotia (NYSE:BNS) Shares Sold by Value Partners Investments Inc.

Value Partners Investments Inc. cut its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,326,448 shares of the bank's stock after selling 106,750 shares during the period. Bank of Nova Scotia comprises approximately 5.5% of Value Partners Investments Inc.'s holdings, making the stock its 8th largest position. Value Partners Investments Inc. owned approximately 0.11% of Bank of Nova Scotia worth $66,533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp boosted 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 worth $42,000 after purchasing an additional 358 shares during the period. EverSource Wealth Advisors LLC raised its stake in Bank of Nova Scotia by 135.6% in the third quarter. EverSource Wealth Advisors LLC now owns 919 shares of the bank's stock worth $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 third quarter valued at about $42,000. NBC Securities Inc. purchased a new position in Bank of Nova Scotia in the third quarter worth $67,000. Finally, Belpointe Asset Management LLC boosted its position in shares of 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 worth $93,000 after purchasing an additional 1,704 shares in the last quarter. 49.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on BNS. Jefferies Financial Group started coverage on Bank of Nova Scotia in a research report on Thursday, February 22nd. They issued a "hold" rating on the stock. Barclays initiated coverage on shares of Bank of Nova Scotia in a research report on Wednesday, March 20th. They set an "underweight" rating and a $70.00 price target on the stock. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $68.00.

Bank of Nova Scotia Stock Down 2.9 %

Bank of Nova Scotia stock traded down $1.44 during midday trading on Wednesday, reaching $49.02. The company's stock had a trading volume of 2,447,578 shares, compared to its average volume of 2,093,232. The business has a 50-day simple moving average of $48.88 and a 200-day simple moving average of $46.25. The company has a market cap of $59.91 billion, a P/E ratio of 10.85, a P/E/G ratio of 1.67 and a beta of 1.04. The Bank of Nova Scotia has a fifty-two week low of $39.79 and a fifty-two week high of $51.98. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.56.

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 for the quarter, beating the consensus estimate of $1.19 by $0.06. The business had revenue of $14.13 billion during the quarter, compared to the consensus estimate of $6.01 billion. Bank of Nova Scotia had a return on equity of 11.51% and a net margin of 10.71%. During the same period in the prior year, the company earned $1.37 earnings per share. On average, research analysts expect 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 declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Tuesday, April 2nd will be issued a $0.7843 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date is Monday, April 1st. This is an increase from Bank of Nova Scotia's previous quarterly dividend of $0.78. Bank of Nova Scotia's dividend payout ratio (DPR) is currently 34.96%.

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.