Forsta AP Fonden Sells 25,400 Shares of Bank of Nova Scotia (The) $BNS

Forsta AP Fonden decreased its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 6.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 368,000 shares of the bank’s stock after selling 25,400 shares during the period. Forsta AP Fonden’s holdings in Bank of Nova Scotia were worth $20,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Cypress Capital Management LLC WY bought a new stake in Bank of Nova Scotia during the second quarter valued at about $33,000. MAI Capital Management raised its stake in Bank of Nova Scotia by 40.7% during the 1st quarter. MAI Capital Management now owns 1,211 shares of the bank’s stock worth $57,000 after acquiring an additional 350 shares during the period. SVB Wealth LLC purchased a new position in Bank of Nova Scotia during the first quarter valued at approximately $69,000. CWM LLC increased its stake in shares of 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 in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Bank of Nova Scotia by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,343 shares of the bank’s stock worth $159,000 after purchasing an additional 336 shares in the last quarter. 49.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BNS shares. Wall Street Zen upgraded 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 target on Bank of Nova Scotia from $80.00 to $86.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 27th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Bank of Nova Scotia in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Hold” and a consensus price target of $86.00.

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock opened at $67.79 on Thursday. The firm has a market cap of $83.92 billion, a PE ratio of 18.22, a PEG ratio of 1.49 and a beta of 1.17. The stock has a 50 day moving average of $64.72 and a 200 day moving average of $58.19. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.66. Bank of Nova Scotia has a 12 month low of $44.09 and a 12 month high of $67.96.

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, topping the consensus estimate of $1.28 by $0.09. The business had revenue of $6.85 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Bank of Nova Scotia had a return on equity of 11.61% and a net margin of 9.74%.The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.63 EPS. On average, research analysts expect that Bank of Nova Scotia will post 4.91 EPS 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.