CIBC Private Wealth Group LLC Purchases 367 Shares of The Bank of Nova Scotia (NYSE:BNS)

CIBC Private Wealth Group LLC increased its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 18.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,368 shares of the bank’s stock after buying an additional 367 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Bank of Nova Scotia were worth $122,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Bank of Nova Scotia during the fourth quarter worth about $25,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Bank of Nova Scotia during the 4th quarter worth approximately $31,000. Allworth Financial LP raised its holdings in Bank of Nova Scotia by 121.1% during the 4th quarter. Allworth Financial LP now owns 639 shares of the bank’s stock worth $33,000 after buying an additional 350 shares during the period. BNP Paribas Financial Markets lifted its stake in Bank of Nova Scotia by 1,588.2% in the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock valued at $47,000 after buying an additional 810 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in shares of Bank of Nova Scotia in the fourth quarter valued at approximately $73,000. 49.13% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Price Performance

NYSE:BNS opened at $44.55 on Tuesday. The Bank of Nova Scotia has a 52-week low of $43.68 and a 52-week high of $57.07. The company has a market cap of $55.48 billion, a P/E ratio of 10.31, a P/E/G ratio of 1.16 and a beta of 1.02. 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 50-day simple moving average is $49.30 and its 200 day simple moving average is $52.10.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. This represents a $2.97 annualized dividend and a dividend yield of 6.66%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is 82.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BNS shares. Royal Bank of Canada cut their price objective on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Bank of America lowered Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research report on Monday, March 31st. Finally, Cibc World Mkts cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $81.00.

Bank of Nova Scotia Company 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.