Pathway Financial Advisers LLC Has $3.96 Million Stake in The Bank of Nova Scotia (NYSE:BNS)

Pathway Financial Advisers LLC cut its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 98.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 73,690 shares of the bank's stock after selling 3,898,544 shares during the quarter. Bank of Nova Scotia makes up approximately 1.3% of Pathway Financial Advisers LLC's portfolio, making the stock its 22nd biggest position. Pathway Financial Advisers LLC's holdings in Bank of Nova Scotia were worth $3,959,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Bank of Nova Scotia by 17.5% in the third quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank's stock worth $241,981,000 after acquiring an additional 660,097 shares during the last quarter. Intact Investment Management Inc. lifted its position in Bank of Nova Scotia by 48.3% during the third quarter. Intact Investment Management Inc. now owns 1,563,594 shares of the bank's stock valued at $85,201,000 after buying an additional 509,120 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Bank of Nova Scotia by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,744,062 shares of the bank's stock valued at $204,214,000 after buying an additional 150,247 shares in the last quarter. Citigroup Inc. lifted its holdings in Bank of Nova Scotia by 12.3% in the 3rd quarter. Citigroup Inc. now owns 580,664 shares of the bank's stock worth $31,673,000 after buying an additional 63,528 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Bank of Nova Scotia by 2.4% during the third quarter. CIBC Asset Management Inc now owns 10,074,518 shares of the bank's stock worth $550,729,000 after buying an additional 240,803 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BNS. Bank of America upgraded Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a report on Tuesday, November 19th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. 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 shares of Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a research note on Thursday, November 21st. Finally, Royal Bank of Canada raised their price objective on shares of Bank of Nova Scotia from $65.00 to $74.00 and gave the company a "sector perform" rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $72.00.

Bank of Nova Scotia Trading Up 0.1 %

Shares of Bank of Nova Scotia stock traded up $0.05 during trading on Monday, hitting $51.22. The stock had a trading volume of 943,636 shares, compared to its average volume of 1,659,774. The Bank of Nova Scotia has a 1 year low of $43.67 and a 1 year high of $57.07. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $63.80 billion, a PE ratio of 11.86, a P/E/G ratio of 1.15 and a beta of 1.07. The stock has a 50 day simple moving average of $52.51 and a 200 day simple moving average of $52.13.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th were issued a dividend of $0.7535 per share. This represents a $3.01 annualized dividend and a dividend yield of 5.88%. The ex-dividend date of this dividend was Tuesday, January 7th. Bank of Nova Scotia's dividend payout ratio is currently 68.29%.

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.