Raymond James Financial Services Advisors Inc. Sells 14,415 Shares of The Bank of Nova Scotia (NYSE:BNS)

Raymond James Financial Services Advisors Inc. decreased its holdings in The Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) by 44.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 17,800 shares of the bank’s stock after selling 14,415 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Bank of Nova Scotia were worth $847,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. DORCHESTER WEALTH MANAGEMENT Co increased its stake in shares of Bank of Nova Scotia by 7.4% in the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 237,583 shares of the bank’s stock valued at $11,287,000 after purchasing an additional 16,433 shares during the last quarter. Ronald Blue Trust Inc. bought a new position in shares of Bank of Nova Scotia in the 3rd quarter valued at $40,000. NuWave Investment Management LLC increased its stake in shares of Bank of Nova Scotia by 8.9% in the 3rd quarter. NuWave Investment Management LLC now owns 5,121 shares of the bank’s stock valued at $244,000 after purchasing an additional 419 shares during the last quarter. Value Partners Investments Inc. increased its stake in shares of Bank of Nova Scotia by 11.2% in the 3rd quarter. Value Partners Investments Inc. now owns 1,101,341 shares of the bank’s stock valued at $52,789,000 after purchasing an additional 111,309 shares during the last quarter. Finally, K.J. Harrison & Partners Inc increased its stake in shares of Bank of Nova Scotia by 2.2% in the 3rd quarter. K.J. Harrison & Partners Inc now owns 42,058 shares of the bank’s stock valued at $2,016,000 after purchasing an additional 925 shares during the last quarter. Institutional investors own 45.19% of the company’s stock.

Analysts Set New Price Targets

BNS has been the topic of several recent research reports. StockNews.com initiated coverage on Bank of Nova Scotia in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Scotiabank cut their price objective on Bank of Nova Scotia from C$83.50 to C$81.50 and set a “sector perform” rating on the stock in a report on Wednesday, November 30th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Bank of Nova Scotia has an average rating of “Hold” and an average target price of C$89.77.

Bank of Nova Scotia Stock Up 0.9 %

Shares of NYSE:BNS opened at C$51.67 on Monday. The company has a market capitalization of C$61.57 billion, a price-to-earnings ratio of 8.28, a P/E/G ratio of 1.89 and a beta of 0.98. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.05 and a quick ratio of 1.05. The business’s 50-day moving average is C$50.39 and its 200-day moving average is C$52.84. The Bank of Nova Scotia has a 1 year low of C$45.26 and a 1 year high of C$74.86.

Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) last announced its quarterly earnings data on Tuesday, November 29th. The bank reported C$1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.49 by C$0.06. The company had revenue of C$5.73 billion for the quarter, compared to the consensus estimate of C$6.21 billion. Bank of Nova Scotia had a return on equity of 15.54% and a net margin of 21.26%. Equities research analysts predict that The Bank of Nova Scotia will post 6.11 earnings per share for the current year.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Wednesday, January 4th will be paid a $0.756 dividend. This represents a $3.02 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date of this dividend is Tuesday, January 3rd. Bank of Nova Scotia’s dividend payout ratio is 48.72%.

About Bank of Nova Scotia

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The Bank of Nova Scotia engages in the provision of various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through 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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