CIBC Asset Management Inc Has $730.96 Million Stock Holdings in Bank of Nova Scotia (The) $BNS

CIBC Asset Management Inc increased its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,857,887 shares of the bank’s stock after buying an additional 57,582 shares during the quarter. Bank of Nova Scotia accounts for 1.8% of CIBC Asset Management Inc’s portfolio, making the stock its 12th biggest holding. CIBC Asset Management Inc owned approximately 0.80% of Bank of Nova Scotia worth $730,958,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Prospera Financial Services Inc boosted its stake in Bank of Nova Scotia by 3.9% during the fourth quarter. Prospera Financial Services Inc now owns 4,625 shares of the bank’s stock worth $341,000 after buying an additional 173 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Bank of Nova Scotia by 9.6% during the third quarter. EverSource Wealth Advisors LLC now owns 2,373 shares of the bank’s stock worth $153,000 after buying an additional 208 shares in the last quarter. Fiera Capital Corp boosted its stake in Bank of Nova Scotia by 0.5% during the third quarter. Fiera Capital Corp now owns 45,482 shares of the bank’s stock worth $2,940,000 after buying an additional 213 shares in the last quarter. Larson Financial Group LLC boosted its stake in Bank of Nova Scotia by 22.3% during the fourth quarter. Larson Financial Group LLC now owns 1,280 shares of the bank’s stock worth $94,000 after buying an additional 233 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Bank of Nova Scotia by 8.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,193 shares of the bank’s stock worth $235,000 after buying an additional 239 shares in the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Up 2.6%

NYSE:BNS opened at $80.66 on Wednesday. The stock’s fifty day moving average price is $74.89 and its two-hundred day moving average price is $73.50. Bank of Nova Scotia has a 52-week low of $53.18 and a 52-week high of $82.22. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $98.95 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 0.97 and a beta of 1.12.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.05. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The firm had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter in the prior year, the business earned $1.52 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts anticipate that Bank of Nova Scotia will post 6.05 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. TD Securities reaffirmed a “hold” rating on shares of Bank of Nova Scotia in a report on Tuesday, March 3rd. Canaccord Genuity Group downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of Nova Scotia in a report on Friday, May 22nd. Finally, Royal Bank Of Canada lifted their price objective on Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a report on Thursday, May 28th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $117.00.

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.