Northwest & Ethical Investments L.P. Has $13.72 Million Position in The Bank of Nova Scotia (NYSE:BNS)

Northwest & Ethical Investments L.P. trimmed its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 251,862 shares of the bank’s stock after selling 12,117 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Bank of Nova Scotia were worth $13,724,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Public Sector Pension Investment Board grew its position in shares of Bank of Nova Scotia by 0.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 161,073 shares of the bank’s stock valued at $8,786,000 after buying an additional 780 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Bank of Nova Scotia by 40.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 747,863 shares of the bank’s stock valued at $40,793,000 after acquiring an additional 216,371 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Bank of Nova Scotia by 24.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank’s stock valued at $640,624,000 after acquiring an additional 2,346,995 shares during the last quarter. Bridgewater Associates LP bought a new position in Bank of Nova Scotia during the 3rd quarter worth approximately $4,485,000. Finally, Transamerica Financial Advisors Inc. acquired a new position in shares of Bank of Nova Scotia in the 3rd quarter worth approximately $300,000. 49.13% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Stock Up 0.9 %

BNS stock traded up $0.50 during mid-day trading on Thursday, reaching $56.72. 926,267 shares of the company traded hands, compared to its average volume of 1,769,975. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average price is $53.65 and its 200 day moving average price is $49.60. The stock has a market cap of $70.58 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 1.52 and a beta of 1.05. The Bank of Nova Scotia has a fifty-two week low of $41.80 and a fifty-two week high of $56.81.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.01. The business had revenue of $8.36 billion during the quarter, compared to the consensus estimate of $8.53 billion. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. Bank of Nova Scotia’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.30 earnings per share. As a group, equities research analysts predict that The Bank of Nova Scotia will post 4.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BNS. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. UBS Group raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. Barclays upgraded shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 21st. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $69.00.

Bank of Nova Scotia 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.