Louisbourg Investments Inc. Has $11.37 Million Holdings in The Bank of Nova Scotia (NYSE:BNS)

Louisbourg Investments Inc. trimmed its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,809 shares of the bank’s stock after selling 5,304 shares during the period. Bank of Nova Scotia accounts for about 2.7% of Louisbourg Investments Inc.’s investment portfolio, making the stock its 4th biggest holding. Louisbourg Investments Inc.’s holdings in Bank of Nova Scotia were worth $11,368,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BNS. Savant Capital LLC bought a new stake in Bank of Nova Scotia in the fourth quarter valued at approximately $219,000. Almanack Investment Partners LLC. bought a new stake in Bank of Nova Scotia in the fourth quarter valued at approximately $202,000. Triasima Portfolio Management inc. increased its stake in Bank of Nova Scotia by 101.8% in the fourth quarter. Triasima Portfolio Management inc. now owns 255,921 shares of the bank’s stock valued at $13,736,000 after purchasing an additional 129,132 shares in the last quarter. Adero Partners LLC increased its stake in Bank of Nova Scotia by 9.0% in the fourth quarter. Adero Partners LLC now owns 4,096 shares of the bank’s stock valued at $220,000 after purchasing an additional 337 shares in the last quarter. Finally, Silverlake Wealth Management LLC increased its stake in Bank of Nova Scotia by 6.6% in the fourth quarter. Silverlake Wealth Management LLC now owns 8,504 shares of the bank’s stock valued at $457,000 after purchasing an additional 528 shares in the last quarter. 49.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. UBS Group raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Bank of Nova Scotia Stock Performance

Shares of BNS opened at $50.96 on Wednesday. The Bank of Nova Scotia has a 12 month low of $43.67 and a 12 month high of $57.07. The firm has a fifty day simple moving average of $52.78 and a 200 day simple moving average of $52.03. The stock has a market capitalization of $63.47 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.15 and a beta of 1.07. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th were issued a dividend of $0.7535 per share. This represents a $3.01 annualized dividend and a yield of 5.91%. The ex-dividend date of this dividend was Tuesday, January 7th. Bank of Nova Scotia’s payout ratio is 68.06%.

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.