Bank of Nova Scotia (The) $BNS Stake Boosted by Keystone Financial Planning Inc.

Keystone Financial Planning Inc. lifted its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 0.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 139,946 shares of the bank’s stock after purchasing an additional 1,039 shares during the period. Bank of Nova Scotia comprises approximately 2.3% of Keystone Financial Planning Inc.’s portfolio, making the stock its 9th biggest holding. Keystone Financial Planning Inc.’s holdings in Bank of Nova Scotia were worth $7,735,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MAI Capital Management increased its position in shares of Bank of Nova Scotia by 40.7% in the first quarter. MAI Capital Management now owns 1,211 shares of the bank’s stock valued at $57,000 after acquiring an additional 350 shares during the period. SVB Wealth LLC purchased a new stake in shares of Bank of Nova Scotia during the first quarter worth about $69,000. North Capital Inc. bought a new stake in shares of Bank of Nova Scotia in the first quarter worth about $81,000. CWM LLC increased its holdings in Bank of Nova Scotia by 15.8% during the 2nd quarter. CWM LLC now owns 2,084 shares of the bank’s stock valued at $115,000 after purchasing an additional 285 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Bank of Nova Scotia by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,343 shares of the bank’s stock valued at $159,000 after purchasing an additional 336 shares during the period. 49.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BNS shares. Wall Street Zen raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Royal Bank Of Canada boosted their price objective on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Bank of Nova Scotia in a report on Friday. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Bank of Nova Scotia currently has an average rating of “Moderate Buy” and an average target price of $86.00.

Bank of Nova Scotia Trading Up 0.5%

NYSE:BNS opened at $64.79 on Friday. The company’s 50 day moving average price is $63.09 and its 200-day moving average price is $56.34. Bank of Nova Scotia has a 52 week low of $44.09 and a 52 week high of $65.52. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.66. The stock has a market cap of $80.38 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 1.47 and a beta of 1.16.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, August 26th. The bank reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.09. Bank of Nova Scotia had a net margin of 9.74% and a return on equity of 11.61%. The company had revenue of $6.85 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period in the previous year, the business earned $1.63 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities research analysts forecast that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

About Bank of Nova Scotia

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.