PBU The Pension Fund of Early Childhood & Youth Educators Purchases Shares of 35,514 Bank of Nova Scotia (The) $BNS

PBU The Pension Fund of Early Childhood & Youth Educators purchased a new stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 35,514 shares of the bank’s stock, valued at approximately $2,617,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. boosted its position in shares of Bank of Nova Scotia by 55.4% in the third quarter. Citigroup Inc. now owns 1,517,072 shares of the bank’s stock worth $98,118,000 after buying an additional 540,526 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Bank of Nova Scotia by 30.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,690,883 shares of the bank’s stock worth $497,197,000 after buying an additional 1,772,608 shares during the period. First National Trust Co boosted its position in shares of Bank of Nova Scotia by 54.5% in the third quarter. First National Trust Co now owns 44,415 shares of the bank’s stock worth $2,871,000 after buying an additional 15,676 shares during the period. Canerector Inc. boosted its position in shares of Bank of Nova Scotia by 8,899.0% in the third quarter. Canerector Inc. now owns 26,997,000 shares of the bank’s stock worth $1,745,356,000 after buying an additional 26,697,000 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of Bank of Nova Scotia by 17.0% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 285,843 shares of the bank’s stock worth $21,109,000 after buying an additional 41,443 shares during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bank of Nova Scotia Trading Down 0.9%

Shares of BNS opened at $80.62 on Friday. The company has a market capitalization of $98.90 billion, a P/E ratio of 15.39, a P/E/G ratio of 0.99 and a beta of 1.12. Bank of Nova Scotia has a one year low of $53.52 and a one year 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 stock has a 50-day moving average price of $75.82 and a 200 day moving average price of $73.83.

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

Bank of Nova Scotia Company 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.