Marathon Asset Management Ltd Has $80.81 Million Position in Bank of Nova Scotia (The) $BNS

Marathon Asset Management Ltd trimmed its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,094,126 shares of the bank’s stock after selling 68,177 shares during the period. Bank of Nova Scotia accounts for about 3.1% of Marathon Asset Management Ltd’s investment portfolio, making the stock its 9th biggest holding. Marathon Asset Management Ltd owned approximately 0.09% of Bank of Nova Scotia worth $80,811,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Mondrian Investment Partners LTD bought a new stake in shares of Bank of Nova Scotia during the third quarter worth approximately $30,000. Quarry LP bought a new stake in shares of Bank of Nova Scotia during the third quarter worth approximately $35,000. Virtus Advisers LLC bought a new stake in shares of Bank of Nova Scotia during the third quarter worth approximately $39,000. Nisa Investment Advisors LLC bought a new stake in shares of Bank of Nova Scotia during the fourth quarter worth approximately $50,000. Finally, Fifth Third Bancorp raised its stake in shares of Bank of Nova Scotia by 79.2% during the fourth quarter. Fifth Third Bancorp now owns 688 shares of the bank’s stock worth $51,000 after buying an additional 304 shares during the last quarter. 49.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BNS has been the subject of a number of recent research reports. Weiss Ratings raised shares of Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, February 25th. TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Royal Bank Of Canada boosted their price target on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 25th. Finally, Canaccord Genuity Group downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $106.00.

Bank of Nova Scotia Stock Down 0.0%

Shares of NYSE BNS opened at $77.23 on Wednesday. The stock has a market cap of $94.92 billion, a P/E ratio of 16.06, a P/E/G ratio of 0.93 and a beta of 1.13. The firm has a 50 day moving average price of $73.16 and a 200 day moving average price of $72.63. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05. Bank of Nova Scotia has a 52-week low of $51.00 and a 52-week high of $79.00.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, February 24th. The bank reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.06. The firm had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $6.99 billion. Bank of Nova Scotia had a net margin of 12.40% and a return on equity of 12.49%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.76 earnings per share. Analysts expect that Bank of Nova Scotia will post 6.05 EPS for the current year.

Bank of Nova Scotia Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.