Ritholtz Wealth Management Acquires 11,442 Shares of Bank of Nova Scotia (The) $BNS

Ritholtz Wealth Management lifted its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 261.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,811 shares of the bank’s stock after acquiring an additional 11,442 shares during the period. Ritholtz Wealth Management’s holdings in Bank of Nova Scotia were worth $874,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Sagespring Wealth Partners LLC bought a new position in shares of Bank of Nova Scotia in the 2nd quarter valued at about $229,000. Sequoia Financial Advisors LLC bought a new position in shares of Bank of Nova Scotia in the 2nd quarter valued at about $498,000. Yousif Capital Management LLC lifted its stake in Bank of Nova Scotia by 7.7% in the second quarter. Yousif Capital Management LLC now owns 17,116 shares of the bank’s stock worth $946,000 after purchasing an additional 1,220 shares during the last quarter. CWM LLC lifted its stake in Bank of Nova Scotia by 15.8% in the second quarter. CWM LLC now owns 2,084 shares of the bank’s stock worth $115,000 after purchasing an additional 285 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Bank of Nova Scotia by 13.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,429 shares of the bank’s stock worth $1,682,000 after purchasing an additional 3,663 shares during the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

Shares of NYSE:BNS opened at $63.75 on Friday. The firm has a market cap of $79.10 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. The firm’s 50 day simple moving average is $62.30 and its 200-day simple moving average is $55.78. Bank of Nova Scotia has a one year low of $44.09 and a one year high of $65.52. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.03.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, August 26th. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.09. The company had revenue of $6.85 billion for the quarter, compared to analyst estimates of $9.29 billion. Bank of Nova Scotia had a net margin of 9.74% and a return on equity of 11.61%. Bank of Nova Scotia’s revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company posted $1.63 earnings per share. As a group, equities analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current year.

Wall Street Analysts Forecast Growth

BNS has been the subject of several analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Bank of Nova Scotia in a research note on Wednesday, October 8th. Royal Bank Of Canada raised their price objective on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th. Finally, Wall Street Zen raised shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $86.00.

Bank of Nova Scotia Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.