Galibier Capital Management Ltd. decreased its position in Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 5.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 152,801 shares of the bank’s stock after selling 9,314 shares during the period. Bank of Nova Scotia makes up 4.9% of Galibier Capital Management Ltd.’s investment portfolio, making the stock its 7th biggest holding. Galibier Capital Management Ltd.’s holdings in Bank of Nova Scotia were worth $8,137,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC raised its stake in shares of Bank of Nova Scotia by 456.6% in the 1st quarter. Atlas Capital Advisors LLC now owns 462 shares of the bank’s stock valued at $25,000 after purchasing an additional 379 shares during the period. Private Capital Group LLC raised its stake in shares of Bank of Nova Scotia by 9,420.0% in the 1st quarter. Private Capital Group LLC now owns 476 shares of the bank’s stock valued at $25,000 after purchasing an additional 471 shares during the period. Lindbrook Capital LLC acquired a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at about $32,000. Pinnacle Bank acquired a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at about $37,000. Finally, Avestar Capital LLC raised its stake in shares of Bank of Nova Scotia by 630.8% in the 1st quarter. Avestar Capital LLC now owns 782 shares of the bank’s stock valued at $39,000 after purchasing an additional 675 shares during the period. 45.25% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:BNS opened at $50.70 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.06 and a current ratio of 1.05. The stock has a market capitalization of $62.82 billion, a P/E ratio of 9.68, a P/E/G ratio of 1.94 and a beta of 1.17. Bank of Nova Scotia has a 52-week low of $48.34 and a 52-week high of $60.91.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its earnings results on Tuesday, May 28th. The bank reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.04). The company had revenue of $7.80 billion during the quarter, compared to analyst estimates of $7.60 billion. Bank of Nova Scotia had a net margin of 19.20% and a return on equity of 13.55%. Bank of Nova Scotia’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.70 EPS. On average, analysts anticipate that Bank of Nova Scotia will post 5.26 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Tuesday, July 2nd will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date is Friday, June 28th. Bank of Nova Scotia’s dividend payout ratio is currently 47.98%.

BNS has been the topic of several recent research reports. Desjardins reissued an “average” rating and issued a $81.00 price target on shares of Bank of Nova Scotia in a research note on Wednesday, February 27th. Barclays reaffirmed an “average” rating and issued a $78.00 target price on shares of Bank of Nova Scotia in a research report on Thursday. Zacks Investment Research raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. TD Securities downgraded Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research report on Tuesday, February 26th. Finally, CIBC downgraded Bank of Nova Scotia from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, February 27th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $77.75.

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Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

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Institutional Ownership by Quarter for Bank of Nova Scotia (NYSE:BNS)

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