Cerity Partners LLC Increases Position in Bank of Nova Scotia (The) (NYSE:BNS)

Cerity Partners LLC boosted its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 159.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 39,955 shares of the bank's stock after buying an additional 24,547 shares during the period. Cerity Partners LLC's holdings in Bank of Nova Scotia were worth $1,895,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in Bank of Nova Scotia in the fourth quarter worth about $1,716,000. HighTower Advisors LLC raised its holdings in shares of Bank of Nova Scotia by 11.8% in the fourth quarter. HighTower Advisors LLC now owns 11,438 shares of the bank's stock worth $614,000 after buying an additional 1,207 shares during the period. Royal London Asset Management Ltd. lifted its stake in shares of Bank of Nova Scotia by 1.5% during the 4th quarter. Royal London Asset Management Ltd. now owns 155,706 shares of the bank's stock worth $8,365,000 after acquiring an additional 2,292 shares during the last quarter. Virtu Financial LLC purchased a new position in Bank of Nova Scotia during the 4th quarter valued at $397,000. Finally, American Century Companies Inc. boosted its holdings in Bank of Nova Scotia by 8.0% during the 4th quarter. American Century Companies Inc. now owns 337,650 shares of the bank's stock valued at $18,132,000 after acquiring an additional 25,056 shares during the period. 49.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wall Street Zen lowered Bank of Nova Scotia from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Bank of America lowered shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $81.00.

Bank of Nova Scotia Stock Down 0.2%

Shares of BNS stock traded down $0.14 during mid-day trading on Thursday, hitting $56.69. The stock had a trading volume of 1,464,892 shares, compared to its average volume of 2,344,538. Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month high of $57.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03. The firm's 50-day moving average is $54.14 and its two-hundred day moving average is $51.03. The firm has a market capitalization of $70.49 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 1.43 and a beta of 1.12.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last released its quarterly earnings data on Tuesday, May 27th. The bank reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.08). Bank of Nova Scotia had a net margin of 8.83% and a return on equity of 11.27%. The firm had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $8.98 billion. During the same quarter in the previous year, the firm earned $1.58 earnings per share. The business's revenue was up 8.8% compared to the same quarter last year. On average, analysts predict that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 2nd will be given a $0.7996 dividend. This represents a $3.20 annualized dividend and a dividend yield of 5.64%. The ex-dividend date is Wednesday, July 2nd. This is a boost from Bank of Nova Scotia's previous quarterly dividend of $0.74. Bank of Nova Scotia's dividend payout ratio is presently 94.72%.

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.