Checchi Capital Advisers LLC Acquires 574 Shares of The Bank of Nova Scotia (NYSE:BNS)

Checchi Capital Advisers LLC lifted its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 15.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,283 shares of the bank’s stock after purchasing an additional 574 shares during the period. Checchi Capital Advisers LLC’s holdings in Bank of Nova Scotia were worth $230,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allworth Financial LP increased its stake in shares of Bank of Nova Scotia by 121.1% during the fourth quarter. Allworth Financial LP now owns 639 shares of the bank’s stock valued at $33,000 after buying an additional 350 shares during the period. BNP Paribas Financial Markets raised 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 worth $47,000 after buying an additional 810 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in Bank of Nova Scotia during the fourth quarter worth $73,000. Wilmington Savings Fund Society FSB bought a new stake in Bank of Nova Scotia during the 3rd quarter valued at $111,000. Finally, Farther Finance Advisors LLC grew its stake in Bank of Nova Scotia by 11.9% in the third quarter. Farther Finance Advisors LLC now owns 2,713 shares of the bank’s stock valued at $148,000 after purchasing an additional 288 shares during the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Down 1.4 %

Shares of BNS stock opened at $49.68 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The stock has a market cap of $61.87 billion, a P/E ratio of 11.50, a P/E/G ratio of 1.16 and a beta of 1.07. The stock has a 50 day moving average of $51.72 and a 200 day moving average of $52.35. The Bank of Nova Scotia has a twelve month low of $43.67 and a twelve month high of $57.07.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 5.97%. Bank of Nova Scotia’s payout ratio is 68.06%.

Analysts Set New Price Targets

BNS has been the subject of several analyst reports. Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Barclays upgraded shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, UBS Group upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $75.50.

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.