Callan Capital LLC Lowers Holdings in The Bank of Nova Scotia (NYSE:BNS)

Callan Capital LLC lowered its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 11.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,058 shares of the bank’s stock after selling 517 shares during the quarter. Callan Capital LLC’s holdings in Bank of Nova Scotia were worth $218,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in Bank of Nova Scotia by 121.1% in the 4th quarter. Allworth Financial LP now owns 639 shares of the bank’s stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Bank of Nova Scotia by 1,588.2% in the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock valued at $47,000 after buying an additional 810 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at $73,000. Blue Trust Inc. lifted its stake in Bank of Nova Scotia by 171.6% during the 3rd quarter. Blue Trust Inc. now owns 1,578 shares of the bank’s stock worth $86,000 after acquiring an additional 997 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Bank of Nova Scotia during the 3rd quarter valued at about $111,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Down 1.3 %

BNS stock opened at $50.46 on Monday. The company’s 50 day moving average is $52.04 and its two-hundred day moving average is $52.32. The Bank of Nova Scotia has a twelve month low of $43.67 and a twelve month high of $57.07. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The stock has a market cap of $62.84 billion, a P/E ratio of 11.68, a PEG ratio of 1.16 and a beta of 1.07.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.7535 per share. This represents a $3.01 annualized dividend and a dividend yield of 5.97%. The ex-dividend date of this dividend was Tuesday, January 7th. Bank of Nova Scotia’s payout ratio is 68.29%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BNS shares. Royal Bank of Canada upped their target price on shares of Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 4th. Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th. UBS Group raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Monday, November 18th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.