Bank of Nova Scotia (The) $BNS Shares Sold by Korea Investment CORP

Korea Investment CORP reduced its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 6.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 880,308 shares of the bank’s stock after selling 60,978 shares during the period. Korea Investment CORP’s holdings in Bank of Nova Scotia were worth $48,580,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of BNS. Cypress Capital Management LLC WY purchased a new position in shares of Bank of Nova Scotia in the 2nd quarter valued at about $33,000. VSM Wealth Advisory LLC acquired a new stake in Bank of Nova Scotia in the second quarter valued at approximately $55,000. 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 buying an additional 350 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of Bank of Nova Scotia during the 1st quarter worth approximately $69,000. Finally, CWM LLC raised its stake in shares of Bank of Nova Scotia by 15.8% during the 2nd quarter. CWM LLC now owns 2,084 shares of the bank’s stock worth $115,000 after buying an additional 285 shares during the period. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Performance

BNS opened at $68.95 on Friday. The firm has a market capitalization of $85.24 billion, a PE ratio of 18.53, a PEG ratio of 1.49 and a beta of 1.17. Bank of Nova Scotia has a twelve month low of $44.09 and a twelve month high of $68.97. The firm’s 50-day moving average price is $65.48 and its 200 day moving average price is $59.47. 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 (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, August 26th. The bank reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.09. The company had revenue of $6.85 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 EPS. As a group, sell-side analysts expect that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BNS. 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 lifted their target price 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. Wall Street Zen upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Raymond James Financial began coverage on shares of Bank of Nova Scotia in a research note on Tuesday. They issued an “outperform” rating on the stock. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Hold” and an average target price of $86.00.

Bank of Nova Scotia Company 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.