Cetera Investment Advisers Sells 2,037 Shares of The Bank of Nova Scotia (NYSE:BNS)

Cetera Investment Advisers reduced its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 9.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,621 shares of the bank’s stock after selling 2,037 shares during the period. Cetera Investment Advisers’ holdings in Bank of Nova Scotia were worth $1,108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Captrust Financial Advisors increased its stake in Bank of Nova Scotia by 7.4% in the fourth quarter. Captrust Financial Advisors now owns 23,986 shares of the bank’s stock valued at $1,289,000 after purchasing an additional 1,657 shares in the last quarter. AXA S.A. increased its position in shares of Bank of Nova Scotia by 39.0% during the fourth quarter. AXA S.A. now owns 393,798 shares of the bank’s stock worth $21,155,000 after acquiring an additional 110,452 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Bank of Nova Scotia during the fourth quarter worth about $319,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Bank of Nova Scotia during the fourth quarter worth about $30,700,000. Finally, Guardian Capital LP increased its position in shares of Bank of Nova Scotia by 5.9% during the fourth quarter. Guardian Capital LP now owns 481,235 shares of the bank’s stock worth $25,828,000 after acquiring an additional 26,868 shares in the last quarter. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Trading Up 0.1%

Shares of BNS stock opened at $51.60 on Friday. The Bank of Nova Scotia has a 52-week low of $43.68 and a 52-week high of $57.07. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50-day simple moving average of $48.57 and a two-hundred day simple moving average of $51.14. The company has a market capitalization of $64.27 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 1.16 and a beta of 1.11.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st were given a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date was Tuesday, April 1st. Bank of Nova Scotia’s payout ratio is 83.05%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. 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. CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Bank of America downgraded shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research report on Monday, March 31st. Finally, Royal Bank of Canada decreased their target price 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Bank of Nova Scotia has a consensus rating of “Hold” and a consensus target price of $81.00.

Bank of Nova Scotia 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.