Bank of Nova Scotia (The) $BNS Stock Position Trimmed by Value Partners Investments Inc.

Value Partners Investments Inc. decreased its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 12.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 982,637 shares of the bank’s stock after selling 136,352 shares during the period. Bank of Nova Scotia makes up about 5.6% of Value Partners Investments Inc.’s holdings, making the stock its 2nd biggest position. Value Partners Investments Inc. owned approximately 0.08% of Bank of Nova Scotia worth $72,576,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Bank of Nova Scotia by 1.9% in the third quarter. Vanguard Group Inc. now owns 56,068,464 shares of the bank’s stock valued at $3,625,499,000 after buying an additional 1,063,127 shares in the last quarter. Canerector Inc. raised its position in 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 acquiring an additional 26,697,000 shares in the last quarter. TD Asset Management Inc lifted its holdings in Bank of Nova Scotia by 1.3% in the third quarter. TD Asset Management Inc now owns 18,364,021 shares of the bank’s stock valued at $1,187,709,000 after acquiring an additional 229,990 shares during the period. Norges Bank acquired a new stake in Bank of Nova Scotia in the second quarter valued at $838,738,000. Finally, Scotia Capital Inc. boosted its position in shares of Bank of Nova Scotia by 0.6% during the 2nd quarter. Scotia Capital Inc. now owns 14,231,690 shares of the bank’s stock worth $786,729,000 after purchasing an additional 90,158 shares in the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BNS. TD Securities reaffirmed a “hold” rating on shares of Bank of Nova Scotia in a research note 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 note on Monday, March 9th. Royal Bank Of Canada boosted their price objective on shares of 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. Raymond James Financial assumed coverage on shares of Bank of Nova Scotia in a research report on Tuesday, November 25th. They set an “outperform” rating on the stock. Finally, Weiss Ratings raised shares of Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Bank of Nova Scotia has a consensus rating of “Hold” and a consensus price target of $106.00.

Bank of Nova Scotia Stock Down 0.9%

Bank of Nova Scotia stock opened at $68.11 on Friday. Bank of Nova Scotia has a fifty-two week low of $44.09 and a fifty-two week high of $78.28. The firm has a market capitalization of $83.97 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 0.82 and a beta of 1.10. The stock’s fifty day moving average is $74.04 and its two-hundred day moving average is $69.87. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Tuesday, February 24th. The bank reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.06. The business had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $6.99 billion. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.76 EPS. Analysts predict that Bank of Nova Scotia will post 4.91 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.