Cerity Partners LLC Has $1.90 Million Stock Holdings in Bank of Nova Scotia (The) (NYSE:BNS)

Cerity Partners LLC boosted its position in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 159.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,955 shares of the bank's stock after acquiring an additional 24,547 shares during the period. Cerity Partners LLC's holdings in Bank of Nova Scotia were worth $1,895,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BNS. Murphy & Mullick Capital Management Corp acquired a new stake in Bank of Nova Scotia during the 4th quarter worth $25,000. Compagnie Lombard Odier SCmA acquired a new stake in Bank of Nova Scotia during the 1st quarter worth $52,000. Independence Bank of Kentucky boosted its stake in Bank of Nova Scotia by 38.4% during the 1st quarter. Independence Bank of Kentucky now owns 1,175 shares of the bank's stock worth $56,000 after purchasing an additional 326 shares during the period. North Capital Inc. acquired a new stake in Bank of Nova Scotia during the 1st quarter worth $81,000. Finally, Atlas Capital Advisors Inc. purchased a new position in Bank of Nova Scotia during the 4th quarter worth $83,000. Institutional investors and hedge funds own 49.13% of the company's stock.

Analysts Set New Price Targets

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

Bank of Nova Scotia Stock Up 1.4%

Shares of NYSE:BNS traded up $0.80 during midday trading on Tuesday, reaching $56.36. The company had a trading volume of 2,266,374 shares, compared to its average volume of 1,779,716. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03. Bank of Nova Scotia has a one year low of $43.68 and a one year high of $57.07. The stock's fifty day moving average price is $53.71 and its 200-day moving average price is $50.92. The stock has a market capitalization of $70.07 billion, a P/E ratio of 16.53, a PEG ratio of 1.39 and a beta of 1.12.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its quarterly earnings results on Tuesday, May 27th. The bank reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.08). The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $8.98 billion. Bank of Nova Scotia had a net margin of 8.83% and a return on equity of 11.27%. The business's revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $1.58 EPS. Equities research analysts expect that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 2nd will be issued a dividend of $0.7996 per share. This represents a $3.20 annualized dividend and a yield of 5.68%. The ex-dividend date is Wednesday, July 2nd. This is an increase from Bank of Nova Scotia's previous quarterly dividend of $0.74. Bank of Nova Scotia's payout ratio is presently 94.72%.

Bank of Nova Scotia 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.