Harvest Portfolios Group Inc. Acquires 8,593 Shares of Bank of Nova Scotia (The) $BNS

Harvest Portfolios Group Inc. raised its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 13.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,677 shares of the bank’s stock after buying an additional 8,593 shares during the period. Harvest Portfolios Group Inc.’s holdings in Bank of Nova Scotia were worth $3,963,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in Bank of Nova Scotia by 5.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,155,791 shares of the bank’s stock valued at $54,819,000 after purchasing an additional 60,506 shares during the last quarter. Cerity Partners LLC lifted its position in Bank of Nova Scotia by 159.3% during the first quarter. Cerity Partners LLC now owns 39,955 shares of the bank’s stock worth $1,895,000 after acquiring an additional 24,547 shares during the last quarter. Genus Capital Management Inc. boosted its stake in Bank of Nova Scotia by 198.5% in the 1st quarter. Genus Capital Management Inc. now owns 24,050 shares of the bank’s stock valued at $1,140,000 after purchasing an additional 48,470 shares during the period. MQS Management LLC acquired a new position in shares of Bank of Nova Scotia in the first quarter valued at about $856,000. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Bank of Nova Scotia by 4.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 67,240 shares of the bank’s stock worth $3,189,000 after purchasing an additional 3,063 shares in the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Trading Up 0.5%

Shares of BNS stock opened at $65.84 on Friday. The company has a market cap of $81.51 billion, a P/E ratio of 17.70, a PEG ratio of 1.49 and a beta of 1.17. Bank of Nova Scotia has a fifty-two week low of $44.09 and a fifty-two week high of $66.10. The stock has a 50 day simple moving average of $64.35 and a two-hundred day simple moving average of $57.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.03.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Tuesday, August 26th. The bank reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.09. The firm 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%. The business’s revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.63 earnings per share. Research analysts forecast that Bank of Nova Scotia will post 4.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

BNS has been the subject of several research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Bank of Nova Scotia in a research report on Wednesday, October 8th. Wall Street Zen raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Royal Bank Of Canada lifted their target price on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 27th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of Nova Scotia presently has a consensus 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.