Sigma Planning Corp Sells 822 Shares of The Bank of Nova Scotia (NYSE:BNS)

Sigma Planning Corp decreased its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,267 shares of the bank’s stock after selling 822 shares during the period. Sigma Planning Corp’s holdings in Bank of Nova Scotia were worth $552,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BNS. Private Advisor Group LLC lifted its position in shares of Bank of Nova Scotia by 3.5% during the 4th quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock worth $336,000 after buying an additional 211 shares during the period. Alberta Investment Management Corp lifted its holdings in shares of Bank of Nova Scotia by 2.2% during the fourth quarter. Alberta Investment Management Corp now owns 2,126,600 shares of the bank’s stock valued at $114,137,000 after acquiring an additional 44,800 shares during the period. Lorne Steinberg Wealth Management Inc. grew its holdings in shares of Bank of Nova Scotia by 0.9% in the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 157,428 shares of the bank’s stock worth $8,446,000 after purchasing an additional 1,398 shares during the last quarter. Callahan Advisors LLC grew its holdings in shares of Bank of Nova Scotia by 36.6% in the 4th quarter. Callahan Advisors LLC now owns 6,420 shares of the bank’s stock worth $345,000 after purchasing an additional 1,720 shares during the last quarter. Finally, Cardinal Capital Management increased its position in shares of Bank of Nova Scotia by 5.6% during the 4th quarter. Cardinal Capital Management now owns 56,282 shares of the bank’s stock worth $3,023,000 after purchasing an additional 3,009 shares in the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Up 1.2 %

NYSE:BNS opened at $50.45 on Thursday. The company has a market cap of $62.84 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.16 and a beta of 1.07. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s fifty day moving average price is $51.79 and its two-hundred day moving average price is $52.37. The Bank of Nova Scotia has a 52-week low of $43.67 and a 52-week high of $57.07.

Bank of Nova Scotia Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.7415 per share. This represents a $2.97 annualized dividend and a dividend yield of 5.88%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 68.06%.

Analysts Set New Price Targets

A number of equities analysts have commented on BNS shares. UBS Group upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. Barclays raised Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $75.50.

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.