Sequoia Financial Advisors LLC Raises Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

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

Several other institutional investors have also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Bank of Nova Scotia in the 4th quarter worth approximately $31,000. Allworth Financial LP increased its stake in shares of Bank of Nova Scotia by 121.1% in 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 period. BNP Paribas Financial Markets raised its holdings in shares of 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 purchasing an additional 810 shares during the last quarter. Fortitude Family Office LLC acquired a new position in Bank of Nova Scotia during the fourth quarter valued at $73,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Bank of Nova Scotia in the third quarter valued at $111,000. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Price Performance

Shares of NYSE BNS opened at $48.07 on Friday. 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 firm has a fifty day moving average of $50.21 and a 200 day moving average of $52.41. The firm has a market cap of $59.88 billion, a PE ratio of 11.13, a PEG ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a one year low of $43.68 and a one year high of $57.07.

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 given a dividend of $0.7415 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 annualized dividend and a dividend yield of 6.17%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 82.77%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Royal Bank of Canada decreased 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 report on Wednesday, February 26th. Barclays upgraded Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 21st. CIBC reiterated a “neutral” rating on shares of Bank of Nova Scotia in a research note 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 report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Bank of Nova Scotia currently 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.