Cerity Partners LLC Invests $244,000 in The Bank of Nova Scotia (NYSE:BNS)

Cerity Partners LLC bought a new position in shares of The Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,123 shares of the bank’s stock, valued at approximately $244,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hazlett Burt & Watson Inc. acquired a new position in shares of Bank of Nova Scotia during the 1st quarter worth approximately $28,000. Charter Oak Capital Management LLC acquired a new position in shares of Bank of Nova Scotia during the 2nd quarter worth approximately $26,000. Clear Street Markets LLC acquired a new position in shares of Bank of Nova Scotia during the 2nd quarter worth approximately $30,000. Hexagon Capital Partners LLC acquired a new position in shares of Bank of Nova Scotia during the 2nd quarter worth approximately $33,000. Finally, GPS Wealth Strategies Group LLC lifted its holdings in Bank of Nova Scotia by 344.8% in the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the bank’s stock valued at $38,000 after acquiring an additional 500 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Up 1.2 %

Bank of Nova Scotia stock opened at $52.15 on Tuesday. The Bank of Nova Scotia has a twelve month low of $45.26 and a twelve month high of $74.86. The stock’s fifty day simple moving average is $49.56 and its 200-day simple moving average is $56.78. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $62.13 billion, a P/E ratio of 7.93, a P/E/G ratio of 1.58 and a beta of 0.97.

Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) last posted its quarterly earnings data on Tuesday, August 23rd. The bank reported $1.63 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.63. Bank of Nova Scotia had a return on equity of 15.73% and a net margin of 24.43%. The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.25 billion. As a group, equities analysts expect that The Bank of Nova Scotia will post 6.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BNS. TD Securities decreased their price objective on Bank of Nova Scotia from C$84.00 to C$83.00 in a report on Wednesday, August 24th. Desjardins cut Bank of Nova Scotia from a “buy” rating to a “hold” rating in a report on Wednesday, September 7th. Royal Bank of Canada cut Bank of Nova Scotia from an “outperform” rating to a “sector perform” rating in a report on Wednesday, August 24th. Credit Suisse Group decreased their price objective on Bank of Nova Scotia from C$85.00 to C$84.00 in a report on Wednesday, August 24th. Finally, Keefe, Bruyette & Woods cut Bank of Nova Scotia from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 23rd. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Bank of Nova Scotia currently has an average rating of “Hold” and an average price target of $90.84.

About Bank of Nova Scotia

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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 in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.

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Institutional Ownership by Quarter for Bank of Nova Scotia (NYSE:BNS)

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