Bank of Nova Scotia (The) $BNS Shares Purchased by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd boosted its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 18.8% in the third quarter, HoldingsChannel reports. The firm owned 181,727 shares of the bank’s stock after buying an additional 28,745 shares during the period. Swiss Life Asset Management Ltd’s holdings in Bank of Nova Scotia were worth $11,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Motco grew its position in Bank of Nova Scotia by 1.2% during the 3rd quarter. Motco now owns 14,832 shares of the bank’s stock worth $959,000 after purchasing an additional 181 shares during the period. Pacifica Partners Inc. lifted its holdings in shares of Bank of Nova Scotia by 1.0% in the 3rd quarter. Pacifica Partners Inc. now owns 18,998 shares of the bank’s stock valued at $1,227,000 after buying an additional 190 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 valued at $153,000 after buying an additional 208 shares during the period. Fiera Capital Corp boosted its stake in shares of Bank of Nova Scotia by 0.5% in the third quarter. Fiera Capital Corp now owns 45,482 shares of the bank’s stock worth $2,940,000 after buying an additional 213 shares during the last quarter. Finally, Cohen Investment Advisors LLC grew its holdings in Bank of Nova Scotia by 3.1% during the third quarter. Cohen Investment Advisors LLC now owns 7,236 shares of the bank’s stock worth $468,000 after acquiring an additional 218 shares during the period. 49.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BNS has been the subject of several recent research reports. Weiss Ratings upgraded Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, February 25th. Canaccord Genuity Group lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Raymond James Financial assumed coverage on shares of Bank of Nova Scotia in a research note on Tuesday, November 25th. They set an “outperform” rating on the stock. Royal Bank Of Canada lifted their target price on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the company a “sector perform” rating in a report on Wednesday, February 25th. Finally, TD Securities reiterated a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $106.00.

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock opened at $68.11 on Friday. The firm has a market cap of $83.97 billion, a PE ratio of 14.16, a P/E/G ratio of 0.83 and a beta of 1.10. Bank of Nova Scotia has a twelve month low of $44.09 and a twelve month high of $78.28. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $74.04 and a 200 day moving average price of $69.81.

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

Bank of Nova Scotia 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.