Bank of Nova Scotia (The) $BNS Holdings Raised by TD Asset Management Inc

TD Asset Management Inc boosted its stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 1.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 18,674,585 shares of the bank’s stock after acquiring an additional 310,564 shares during the quarter. Bank of Nova Scotia makes up approximately 1.1% of TD Asset Management Inc’s holdings, making the stock its 19th largest position. TD Asset Management Inc’s holdings in Bank of Nova Scotia were worth $1,379,120,000 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 BNS. Mondrian Investment Partners LTD purchased a new stake in Bank of Nova Scotia in the 3rd quarter worth approximately $30,000. Quarry LP purchased a new stake in Bank of Nova Scotia in the 3rd quarter worth approximately $35,000. Virtus Advisers LLC purchased a new stake in Bank of Nova Scotia in the 3rd quarter worth approximately $39,000. Newbridge Financial Services Group Inc. purchased a new stake in Bank of Nova Scotia in the 3rd quarter worth approximately $45,000. Finally, Allworth Financial LP lifted its position in Bank of Nova Scotia by 122.0% in the 3rd quarter. Allworth Financial LP now owns 715 shares of the bank’s stock worth $46,000 after buying an additional 393 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analyst Upgrades and Downgrades

BNS has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of Nova Scotia in a research report on Friday, May 22nd. TD Securities reiterated a “hold” rating on shares of Bank of Nova Scotia in a research report on Tuesday, March 3rd. Royal Bank Of Canada increased their target price on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 28th. Finally, Canaccord Genuity Group downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Hold” and a consensus price target of $117.00.

Bank of Nova Scotia Stock Down 0.6%

Bank of Nova Scotia stock opened at $80.19 on Thursday. The company has a market capitalization of $98.37 billion, a P/E ratio of 15.30, a P/E/G ratio of 0.99 and a beta of 1.12. The firm’s fifty day simple moving average is $75.36 and its 200-day simple moving average is $73.68. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. Bank of Nova Scotia has a 1-year low of $53.18 and a 1-year high of $82.22.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. The business had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $7.13 billion. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. Bank of Nova Scotia’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.52 EPS. Sell-side analysts forecast that Bank of Nova Scotia will post 6.05 earnings per share for the current fiscal year.

Bank of Nova Scotia 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.