Mackenzie Financial Corp Reduces Stock Position in The Bank of Nova Scotia (NYSE:BNS)

Mackenzie Financial Corp decreased its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 14.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 13,422,200 shares of the bank's stock after selling 2,262,113 shares during the period. Bank of Nova Scotia accounts for about 1.0% of Mackenzie Financial Corp's holdings, making the stock its 23rd largest position. Mackenzie Financial Corp owned about 1.11% of Bank of Nova Scotia worth $653,679,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Bank of Nova Scotia by 0.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,793,862 shares of the bank's stock valued at $136,446,000 after acquiring an additional 11,838 shares during the period. Koshinski Asset Management Inc. acquired a new stake in Bank of Nova Scotia in the 4th quarter worth $341,000. Cerity Partners LLC increased its holdings in shares of Bank of Nova Scotia by 46.5% during the 4th quarter. Cerity Partners LLC now owns 7,269 shares of the bank's stock worth $354,000 after purchasing an additional 2,307 shares during the period. Advisors Management Group Inc. ADV raised its position in shares of Bank of Nova Scotia by 1.6% during the fourth quarter. Advisors Management Group Inc. ADV now owns 43,141 shares of the bank's stock valued at $2,101,000 after buying an additional 697 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Bank of Nova Scotia by 124.9% during the fourth quarter. International Assets Investment Management LLC now owns 115,498 shares of the bank's stock valued at $51,346,000 after buying an additional 64,152 shares during the last quarter. 49.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Bank of Nova Scotia Trading Down 1.5 %

Bank of Nova Scotia stock traded down $0.71 during trading hours on Monday, reaching $47.48. 1,796,583 shares of the company's stock traded hands, compared to its average volume of 2,133,507. The Bank of Nova Scotia has a fifty-two week low of $39.79 and a fifty-two week high of $51.98. The firm's 50 day moving average is $48.96 and its 200-day moving average is $46.30. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $58.03 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.60 and a beta of 1.04.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its quarterly earnings data on Tuesday, February 27th. The bank reported $1.25 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $14.13 billion for the quarter, compared to analysts' expectations of $6.01 billion. During the same period last year, the firm earned $1.37 earnings per share. On average, analysts predict that The Bank of Nova Scotia will post 4.9 earnings per share for the current 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 paid a $0.7843 dividend. The ex-dividend date is Monday, April 1st. This is a boost 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 6.61%. Bank of Nova Scotia's dividend payout ratio is 34.96%.

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.