The Bank of Nova Scotia (NYSE:BNS) Stock Position Decreased by Cerity Partners LLC

Cerity Partners LLC decreased its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 7.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 15,408 shares of the bank’s stock after selling 1,187 shares during the period. Cerity Partners LLC’s holdings in Bank of Nova Scotia were worth $833,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. lifted its holdings in shares of Bank of Nova Scotia by 0.9% during the 4th quarter. Russell Investments Group Ltd. now owns 1,334,685 shares of the bank’s stock worth $71,777,000 after acquiring an additional 12,078 shares during the period. Envestnet Asset Management Inc. boosted its position in Bank of Nova Scotia by 22.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 7,621 shares of the bank’s stock valued at $409,000 after buying an additional 1,413 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in Bank of Nova Scotia by 3.7% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 474,559 shares of the bank’s stock worth $25,484,000 after purchasing an additional 16,743 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Bank of Nova Scotia during the fourth quarter worth approximately $1,165,000. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of Bank of Nova Scotia in the 4th quarter valued at $83,000. Institutional investors own 49.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on BNS. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Cibc World Mkts cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Royal Bank of Canada cut their price objective on 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. Finally, Bank of America cut shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research note on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia has an average rating of “Hold” and an average price target of $81.00.

Bank of Nova Scotia Stock Up 0.7 %

Shares of NYSE BNS opened at $47.46 on Friday. The stock has a market capitalization of $59.11 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.16 and a beta of 1.02. The Bank of Nova Scotia has a 1 year low of $43.68 and a 1 year high of $57.07. The company has a 50-day moving average price of $48.28 and a 200-day moving average price of $51.53. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be issued a $0.7415 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.25%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 83.05%.

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.