Bank of Nova Scotia (The) $BNS Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. boosted its stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 7.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,678,072 shares of the bank’s stock after purchasing an additional 122,852 shares during the period. Franklin Resources Inc.’s holdings in Bank of Nova Scotia were worth $123,766,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Bank of Nova Scotia in a research note on Friday, May 22nd. TD Securities reaffirmed a “hold” rating on shares of Bank of Nova Scotia in a research report on Tuesday, March 3rd. Canaccord Genuity Group cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Royal Bank Of Canada lifted their price objective 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 research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $117.00.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock opened at $81.65 on Thursday. The stock has a market cap of $100.02 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 1.00 and a beta of 1.12. The company has a fifty day simple moving average of $76.63 and a 200-day simple moving average of $74.18. Bank of Nova Scotia has a 12-month low of $53.72 and a 12-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.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released 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. The business had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $7.13 billion. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.52 EPS. Equities analysts expect 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.