Russell Investments Group Ltd. Has $108.15 Million Stake in Bank of Nova Scotia (The) $BNS

Russell Investments Group Ltd. boosted its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 32.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,669,108 shares of the bank’s stock after acquiring an additional 406,646 shares during the quarter. Russell Investments Group Ltd. owned 0.13% of Bank of Nova Scotia worth $108,149,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BNS. Bank of New York Mellon Corp raised its holdings in shares of Bank of Nova Scotia by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,200,107 shares of the bank’s stock valued at $66,330,000 after purchasing an additional 44,316 shares during the period. Public Sector Pension Investment Board grew its holdings in Bank of Nova Scotia by 1,073.1% during the second quarter. Public Sector Pension Investment Board now owns 1,410,536 shares of the bank’s stock worth $77,840,000 after purchasing an additional 1,290,300 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Bank of Nova Scotia by 315.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,873,828 shares of the bank’s stock worth $159,014,000 after purchasing an additional 2,181,312 shares during the period. Addenda Capital Inc. increased its position in Bank of Nova Scotia by 13.1% during the third quarter. Addenda Capital Inc. now owns 1,094,330 shares of the bank’s stock worth $70,748,000 after buying an additional 126,409 shares during the last quarter. Finally, Amundi increased its position in Bank of Nova Scotia by 11.7% during the second quarter. Amundi now owns 4,728,837 shares of the bank’s stock worth $285,228,000 after buying an additional 495,797 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Canaccord Genuity Group cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Monday. Royal Bank Of Canada boosted their target price on Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. Weiss Ratings upgraded Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, February 25th. TD Securities reaffirmed a “hold” rating on shares of Bank of Nova Scotia in a report on Tuesday, March 3rd. Finally, Raymond James Financial began coverage on shares of Bank of Nova Scotia in a research report on Tuesday, November 25th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Bank of Nova Scotia presently has an average rating of “Hold” and an average target price of $106.00.

Bank of Nova Scotia Stock Down 1.7%

Bank of Nova Scotia stock opened at $70.85 on Tuesday. The company’s 50-day moving average price is $74.68 and its two-hundred day moving average price is $69.37. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.68. The stock has a market cap of $87.35 billion, a P/E ratio of 14.73, a P/E/G ratio of 0.87 and a beta of 1.10. Bank of Nova Scotia has a twelve month low of $44.09 and a twelve month high of $78.28.

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, topping analysts’ consensus estimates of $1.42 by $0.06. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The company had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $6.99 billion. During the same quarter in the previous year, the company posted $1.76 earnings per share. The business’s revenue was up 2.9% on a year-over-year basis. As a group, analysts expect that Bank of Nova Scotia will post 4.91 EPS for the current year.

About Bank of Nova Scotia

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.