Bank of Nova Scotia’s (BNS) “Neutral” Rating Reaffirmed at CIBC

CIBC reiterated their neutral rating on shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in a report published on Tuesday, Marketbeat.com reports.

A number of other equities research analysts also recently weighed in on the company. UBS Group raised 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 research report on Thursday, November 21st. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $72.00.

Bank of Nova Scotia Trading Up 0.4 %

Shares of NYSE:BNS opened at $51.10 on Tuesday. Bank of Nova Scotia has a 52-week low of $43.67 and a 52-week high of $57.07. The company has a market cap of $63.64 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.16 and a beta of 1.07. The stock’s 50-day moving average is $52.13 and its 200-day moving average is $52.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th were paid a $0.7535 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date of this dividend was Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 68.29%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BNS. Creative Planning raised its position in Bank of Nova Scotia by 2.3% in the 3rd quarter. Creative Planning now owns 36,568 shares of the bank’s stock worth $1,993,000 after purchasing an additional 807 shares during the last quarter. Blue Trust Inc. raised its position in Bank of Nova Scotia by 171.6% in the 3rd quarter. Blue Trust Inc. now owns 1,578 shares of the bank’s stock worth $86,000 after purchasing an additional 997 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Bank of Nova Scotia in the 3rd quarter worth approximately $221,000. Signaturefd LLC raised its position in Bank of Nova Scotia by 1.2% in the 3rd quarter. Signaturefd LLC now owns 18,470 shares of the bank’s stock worth $1,006,000 after purchasing an additional 216 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in Bank of Nova Scotia by 138.9% in the 3rd quarter. International Assets Investment Management LLC now owns 123,358 shares of the bank’s stock worth $67,220,000 after purchasing an additional 71,712 shares during the last quarter. Institutional investors own 49.13% of the company’s stock.

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.