Highland Capital Management LLC Sells 800 Shares of The Bank of Nova Scotia (NYSE:BNS)

Highland Capital Management LLC cut its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 2.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,350 shares of the bank’s stock after selling 800 shares during the period. Highland Capital Management LLC’s holdings in Bank of Nova Scotia were worth $1,523,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in shares of Bank of Nova Scotia by 1,588.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock worth $47,000 after purchasing an additional 810 shares in the last quarter. City State Bank purchased a new stake in Bank of Nova Scotia in the third quarter worth approximately $57,000. Fortitude Family Office LLC bought a new position in Bank of Nova Scotia during the fourth quarter valued at approximately $73,000. Blue Trust Inc. raised its stake in shares of Bank of Nova Scotia by 171.6% during the third 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 bought a new stake in shares of Bank of Nova Scotia in the 3rd quarter worth approximately $111,000. Institutional investors own 49.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report 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. Barclays upgraded Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 21st. Finally, TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Bank of Nova Scotia Trading Down 0.3 %

NYSE:BNS opened at $51.80 on Friday. The company has a 50-day moving average price of $53.80 and a 200-day moving average price of $51.73. The stock has a market cap of $64.51 billion, a price-to-earnings ratio of 11.99, a P/E/G ratio of 1.16 and a beta of 1.08. 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 Bank of Nova Scotia has a 12 month low of $43.67 and a 12 month high of $57.07.

Bank of Nova Scotia Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th were given a dividend of $0.7535 per share. The ex-dividend date was Tuesday, January 7th. This represents a $3.01 annualized dividend and a dividend yield of 5.82%. Bank of Nova Scotia’s dividend payout ratio is presently 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.