The Bank of Nova Scotia (NYSE:BNS) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 8.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,416 shares of the bank’s stock after purchasing an additional 362 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Bank of Nova Scotia were worth $237,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Bank of Nova Scotia by 260.1% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank’s stock worth $298,575,000 after acquiring an additional 3,958,580 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Bank of Nova Scotia by 24.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank’s stock worth $640,624,000 after purchasing an additional 2,346,995 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of Bank of Nova Scotia by 9.6% during the 3rd quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank’s stock worth $1,361,752,000 after purchasing an additional 2,195,604 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Bank of Nova Scotia by 17.5% in the third quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank’s stock valued at $241,981,000 after purchasing an additional 660,097 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Bank of Nova Scotia by 10.3% in the third quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank’s stock valued at $310,817,000 after purchasing an additional 524,496 shares during the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Down 0.3 %

Shares of BNS opened at $48.07 on Friday. The company’s 50-day moving average price is $50.21 and its 200 day moving average price is $52.41. The Bank of Nova Scotia has a 12-month low of $43.68 and a 12-month high of $57.07. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The firm has a market cap of $59.88 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be paid a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.17%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is 82.77%.

Analyst Upgrades and Downgrades

BNS has been the subject of several analyst reports. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Royal Bank of Canada dropped their price objective on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Barclays raised shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. Finally, 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $81.00.

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.