US Bancorp DE Has $4.88 Million Stake in Bank of Nova Scotia (The) $BNS

US Bancorp DE increased its stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,303 shares of the bank’s stock after acquiring an additional 2,631 shares during the quarter. US Bancorp DE’s holdings in Bank of Nova Scotia were worth $4,881,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Cromwell Holdings LLC increased its stake in shares of Bank of Nova Scotia by 7.8% in the 2nd quarter. Cromwell Holdings LLC now owns 2,955 shares of the bank’s stock valued at $163,000 after acquiring an additional 213 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Bank of Nova Scotia by 0.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 58,073 shares of the bank’s stock valued at $2,754,000 after acquiring an additional 298 shares in the last quarter. Orca Wealth Management LLC increased its stake in shares of Bank of Nova Scotia by 1.9% in the 1st quarter. Orca Wealth Management LLC now owns 16,839 shares of the bank’s stock valued at $799,000 after acquiring an additional 307 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of Bank of Nova Scotia by 8.0% in the 1st quarter. HB Wealth Management LLC now owns 4,406 shares of the bank’s stock valued at $209,000 after acquiring an additional 327 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 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,343 shares of the bank’s stock valued at $159,000 after acquiring an additional 336 shares in the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

NYSE BNS opened at $63.92 on Tuesday. Bank of Nova Scotia has a 1 year low of $44.09 and a 1 year high of $65.52. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $79.30 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.45 and a beta of 1.16. The company has a fifty day moving average price of $61.63 and a 200-day moving average price of $55.36.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results 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 firm had revenue of $6.85 billion during 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%. The business’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 EPS. As a group, equities research analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Royal Bank Of Canada boosted their price target on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Bank of Nova Scotia in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded 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 stock. According to data from MarketBeat, Bank of Nova Scotia presently has a consensus rating of “Moderate Buy” and an average price target of $86.00.

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.