The Bank of Nova Scotia (NYSE:BNS) Holdings Boosted by Galibier Capital Management Ltd.

Galibier Capital Management Ltd. lifted its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 38,283.3% during the fourth quarter, Holdings Channel reports. The firm owned 476,721 shares of the bank’s stock after acquiring an additional 475,479 shares during the quarter. Bank of Nova Scotia makes up about 7.3% of Galibier Capital Management Ltd.’s portfolio, making the stock its 3rd largest holding. Galibier Capital Management Ltd.’s holdings in Bank of Nova Scotia were worth $25,586,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in Bank of Nova Scotia by 17.5% during the third quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank’s stock worth $241,981,000 after buying an additional 660,097 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Bank of Nova Scotia by 2,455.8% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,521,906 shares of the bank’s stock worth $69,627,000 after acquiring an additional 1,462,360 shares during the last quarter. Intact Investment Management Inc. increased its holdings in shares of Bank of Nova Scotia by 48.3% in the 3rd quarter. Intact Investment Management Inc. now owns 1,563,594 shares of the bank’s stock valued at $85,201,000 after acquiring an additional 509,120 shares during the period. Charles Schwab Investment Management Inc. raised its position in Bank of Nova Scotia by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,744,062 shares of the bank’s stock valued at $204,214,000 after purchasing an additional 150,247 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Bank of Nova Scotia by 4.7% during the 2nd quarter. Mackenzie Financial Corp now owns 15,091,880 shares of the bank’s stock worth $690,438,000 after purchasing an additional 683,946 shares during the period. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Down 1.6 %

Bank of Nova Scotia stock opened at $50.86 on Friday. The stock’s 50 day moving average price is $54.32 and its 200 day moving average price is $51.33. The Bank of Nova Scotia has a 1-year low of $43.67 and a 1-year high of $57.07. The company has a market cap of $63.34 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.7535 per share. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.93%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 68.29%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. UBS Group raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Monday, November 18th. Finally, Cibc World Mkts upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Bank of Nova Scotia presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

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.