The Bank of Nova Scotia (NYSE:BNS) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lowered its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 48.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,203 shares of the bank’s stock after selling 19,585 shares during the period. Cetera Investment Advisers’ holdings in Bank of Nova Scotia were worth $969,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in BNS. Wealth Enhancement Advisory Services LLC lifted its stake in Bank of Nova Scotia by 1.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,432 shares of the bank’s stock valued at $799,000 after acquiring an additional 219 shares during the last quarter. Pacifica Partners Inc. grew its holdings in shares of Bank of Nova Scotia by 1.5% in the 2nd quarter. Pacifica Partners Inc. now owns 19,493 shares of the bank’s stock worth $889,000 after purchasing an additional 288 shares during the last quarter. Gold Investment Management Ltd. lifted its position in Bank of Nova Scotia by 0.3% during the 1st quarter. Gold Investment Management Ltd. now owns 111,564 shares of the bank’s stock worth $5,773,000 after buying an additional 292 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its position in Bank of Nova Scotia by 1.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 22,677 shares of the bank’s stock worth $1,174,000 after buying an additional 294 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in Bank of Nova Scotia by 0.6% during the 1st quarter. International Assets Investment Management LLC now owns 51,646 shares of the bank’s stock valued at $2,674,000 after purchasing an additional 300 shares during the period. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Stock Performance

Bank of Nova Scotia stock opened at $53.51 on Friday. The business has a 50 day moving average of $50.99 and a 200-day moving average of $48.38. The Bank of Nova Scotia has a 1 year low of $39.79 and a 1 year high of $55.12. The company has a market capitalization of $65.79 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 1.02.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its earnings results on Tuesday, August 27th. The bank reported $1.63 EPS for the quarter, beating the consensus estimate of $1.62 by $0.01. The business had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.53 billion. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.30 earnings per share. On average, equities research analysts predict that The Bank of Nova Scotia will post 4.8 earnings per share for the current year.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd will be issued a $0.768 dividend. This represents a $3.07 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date of this dividend is Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio is currently 70.50%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group began coverage on Bank of Nova Scotia in a research note on Tuesday, July 2nd. They set a “neutral” rating for the company. Cibc World Mkts raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $69.00.

About Bank of Nova Scotia

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.