Baskin Financial Services Inc. Sells 999 Shares of The Bank of Nova Scotia (NYSE:BNS)

Baskin Financial Services Inc. decreased its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 20.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,824 shares of the bank’s stock after selling 999 shares during the period. Baskin Financial Services Inc.’s holdings in Bank of Nova Scotia were worth $205,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BNP Paribas Financial Markets boosted its holdings in shares of Bank of Nova Scotia by 1,588.2% during the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock worth $47,000 after acquiring an additional 810 shares during the period. City State Bank bought a new stake in Bank of Nova Scotia in the 3rd quarter valued at $57,000. Fortitude Family Office LLC acquired a new position in Bank of Nova Scotia in the 4th quarter valued at $73,000. Blue Trust Inc. increased its position 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 buying an additional 997 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Bank of Nova Scotia during the third quarter worth $111,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

Shares of Bank of Nova Scotia stock opened at $51.24 on Monday. The stock has a market cap of $63.81 billion, a price-to-earnings ratio of 11.86, a P/E/G ratio of 1.17 and a beta of 1.08. The Bank of Nova Scotia has a twelve month low of $43.67 and a twelve month high of $57.07. The company’s fifty day moving average is $53.60 and its 200 day moving average is $51.79. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th were paid a $0.7535 dividend. The ex-dividend date was Tuesday, January 7th. This represents a $3.01 annualized dividend and a dividend yield of 5.88%. Bank of Nova Scotia’s payout ratio is 68.29%.

Wall Street Analyst Weigh In

A number of research firms recently commented on BNS. Royal Bank of Canada raised their price target on shares of Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 4th. TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” 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. Finally, Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Bank of Nova Scotia currently has an average rating of “Moderate Buy” and an average target price of $72.00.

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.