Value Partners Investments Inc. reduced its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS – Free Report) (TSE:BNS) by 17.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 811,628 shares of the bank’s stock after selling 171,009 shares during the period. Bank of Nova Scotia accounts for 4.3% of Value Partners Investments Inc.’s portfolio, making the stock its 10th biggest holding. Value Partners Investments Inc. owned 0.07% of Bank of Nova Scotia worth $56,172,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. Prospera Financial Services Inc grew its position in shares of Bank of Nova Scotia by 3.9% during the fourth quarter. Prospera Financial Services Inc now owns 4,625 shares of the bank’s stock worth $341,000 after purchasing an additional 173 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Bank of Nova Scotia by 9.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,373 shares of the bank’s stock worth $153,000 after purchasing an additional 208 shares during the period. Larson Financial Group LLC grew its holdings in Bank of Nova Scotia by 22.3% during the 4th quarter. Larson Financial Group LLC now owns 1,280 shares of the bank’s stock valued at $94,000 after buying an additional 233 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Bank of Nova Scotia by 8.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,193 shares of the bank’s stock valued at $235,000 after buying an additional 239 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Bank of Nova Scotia by 8.5% during the third quarter. Parallel Advisors LLC now owns 3,326 shares of the bank’s stock valued at $215,000 after buying an additional 261 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
BNS has been the subject of several research analyst reports. Royal Bank Of Canada raised their target price on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research note on Thursday, May 28th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of Nova Scotia in a research report on Friday, May 22nd. Canaccord Genuity Group cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $117.00.
Bank of Nova Scotia Stock Down 0.2%
Shares of NYSE:BNS opened at $86.32 on Friday. The company has a market cap of $105.74 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.07 and a beta of 1.12. Bank of Nova Scotia has a 12 month low of $54.29 and a 12 month high of $87.97. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $80.01 and a 200 day moving average price of $75.54.
Bank of Nova Scotia (NYSE:BNS – Get Free Report) (TSE:BNS) last posted its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.05. The business had revenue of $7.24 billion during the quarter, compared to analyst estimates of $7.13 billion. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the company earned $1.52 EPS. As a group, equities research analysts predict that Bank of Nova Scotia will post 6.01 earnings per share for the current year.
Bank of Nova Scotia Company 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.
See Also
- Five stocks we like better than Bank of Nova Scotia
- Rocket Lab’s NASA Win Tests Key Support After Sharp Pullback
- AST SpaceMobile Just Nailed a Major Launch—So Why Is the Stock Crashing?
- Palantir’s Valuation Problem Just Met 2 New Growth Catalysts
- Xcel Energy Stock Offers Stability as Electricity Demand Builds
Receive News & Ratings for Bank of Nova Scotia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Nova Scotia and related companies with MarketBeat.com's FREE daily email newsletter.
