Bank of Nova Scotia (The) (NYSE:BNS) Short Interest Down 27.9% in February

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) saw a large decline in short interest in the month of February. As of February 13th, there was short interest totaling 5,421,821 shares, a decline of 27.9% from the January 29th total of 7,520,099 shares. Based on an average daily trading volume, of 1,715,520 shares, the short-interest ratio is presently 3.2 days. Approximately 0.4% of the company’s shares are short sold. Approximately 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 1,715,520 shares, the short-interest ratio is presently 3.2 days.

Institutional Investors Weigh In On Bank of Nova Scotia

Large investors have recently added to or reduced their stakes in the company. Compound Planning Inc. boosted its position in Bank of Nova Scotia by 31.6% in the 4th quarter. Compound Planning Inc. now owns 17,740 shares of the bank’s stock valued at $1,307,000 after buying an additional 4,264 shares during the last quarter. Alberta Investment Management Corp grew its stake in Bank of Nova Scotia by 6.5% during the 4th quarter. Alberta Investment Management Corp now owns 1,641,000 shares of the bank’s stock valued at $121,032,000 after purchasing an additional 99,800 shares in the last quarter. Strive Financial Group LLC purchased a new stake in Bank of Nova Scotia during the 4th quarter worth approximately $102,000. Mercer Global Advisors Inc. ADV increased its holdings in Bank of Nova Scotia by 3.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,611 shares of the bank’s stock worth $708,000 after purchasing an additional 334 shares during the last quarter. Finally, Vident Advisory LLC raised its position in shares of Bank of Nova Scotia by 28.7% in the 4th quarter. Vident Advisory LLC now owns 15,734 shares of the bank’s stock valued at $1,160,000 after purchasing an additional 3,510 shares in the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Down 2.7%

Shares of NYSE BNS traded down $2.07 on Tuesday, hitting $73.49. The company had a trading volume of 3,006,508 shares, compared to its average volume of 1,789,160. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.68. Bank of Nova Scotia has a 12-month low of $44.09 and a 12-month high of $78.28. The firm has a market capitalization of $90.60 billion, a P/E ratio of 15.28, a PEG ratio of 0.91 and a beta of 1.10. The business has a 50 day moving average of $74.80 and a two-hundred day moving average of $68.92.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its earnings results on Tuesday, February 24th. The bank reported $1.48 EPS for the quarter, beating the consensus estimate of $1.42 by $0.06. The business had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $6.99 billion. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The company’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the business posted $1.76 EPS. As a group, equities research analysts forecast that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. TD Securities reaffirmed a “hold” rating on shares of Bank of Nova Scotia in a research report on Tuesday. Royal Bank Of Canada raised their price objective on Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. Raymond James Financial initiated coverage on Bank of Nova Scotia in a research note on Tuesday, November 25th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings upgraded Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Bank of Nova Scotia has an average rating of “Hold” and a consensus target price of $106.00.

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.