Samalin Investment Counsel LLC Makes New $577,000 Investment in The Bank of Nova Scotia (NYSE:BNS)

Samalin Investment Counsel LLC acquired a new position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,740 shares of the bank’s stock, valued at approximately $577,000.

Other hedge funds have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Bank of Nova Scotia during the fourth quarter worth approximately $31,000. Allworth Financial LP lifted its position in Bank of Nova Scotia by 121.1% during the fourth quarter. Allworth Financial LP now owns 639 shares of the bank’s stock worth $33,000 after acquiring an additional 350 shares during the last quarter. BNP Paribas Financial Markets lifted its position in 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 last quarter. Fortitude Family Office LLC acquired a new stake in Bank of Nova Scotia during the fourth quarter worth approximately $73,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Bank of Nova Scotia in the third quarter valued at approximately $111,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BNS shares. Royal Bank of Canada dropped their price target on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. CIBC reiterated a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Finally, Cibc World Mkts downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Bank of Nova Scotia has an average rating of “Hold” and an average price target of $81.00.

Bank of Nova Scotia Stock Performance

Shares of NYSE:BNS opened at $48.01 on Friday. The company’s 50 day simple moving average is $50.15 and its 200 day simple moving average is $52.42. The stock has a market capitalization of $59.80 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The Bank of Nova Scotia has a 1 year low of $43.68 and a 1 year high of $57.07.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be paid a $0.7415 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 6.18%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 82.77%.

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.