O Shaughnessy Asset Management LLC Boosts Holdings in Bank of Nova Scotia (The) $BNS

O Shaughnessy Asset Management LLC grew its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 243,615 shares of the bank’s stock after purchasing an additional 12,701 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Bank of Nova Scotia were worth $17,963,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Bank of Nova Scotia by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 57,237,537 shares of the bank’s stock valued at $4,221,440,000 after purchasing an additional 1,169,073 shares during the period. Canerector Inc. raised its stake in shares of Bank of Nova Scotia by 8,899.0% during the third quarter. Canerector Inc. now owns 26,997,000 shares of the bank’s stock valued at $1,745,356,000 after purchasing an additional 26,697,000 shares during the period. TD Asset Management Inc raised its stake in shares of Bank of Nova Scotia by 1.7% during the fourth quarter. TD Asset Management Inc now owns 18,674,585 shares of the bank’s stock valued at $1,379,120,000 after purchasing an additional 310,564 shares during the period. Norges Bank purchased a new stake in shares of Bank of Nova Scotia during the fourth quarter valued at approximately $1,368,456,000. Finally, Geode Capital Management LLC raised its stake in shares of Bank of Nova Scotia by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 12,259,989 shares of the bank’s stock valued at $923,232,000 after purchasing an additional 799,474 shares during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analyst Upgrades and Downgrades

BNS has been the subject of a number of recent analyst reports. TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a research report on Tuesday, March 3rd. Canaccord Genuity Group downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of Nova Scotia in a research report on Friday, May 22nd. Finally, Royal Bank Of Canada raised their price target on shares of 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. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $117.00.

Bank of Nova Scotia Stock Up 0.8%

BNS stock opened at $81.58 on Wednesday. Bank of Nova Scotia has a twelve month low of $53.72 and a twelve month high of $82.22. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $99.94 billion, a P/E ratio of 15.57, a PEG ratio of 0.99 and a beta of 1.12. The firm has a 50 day simple moving average of $76.34 and a 200-day simple moving average of $74.07.

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