Bank of Nova Scotia (The) $BNS is Value Partners Investments Inc.’s 2nd Largest Position

Value Partners Investments Inc. reduced its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 12.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 982,637 shares of the bank’s stock after selling 136,352 shares during the period. Bank of Nova Scotia accounts for about 5.6% of Value Partners Investments Inc.’s holdings, making the stock its 2nd biggest position. Value Partners Investments Inc.’s holdings in Bank of Nova Scotia were worth $72,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mondrian Investment Partners LTD acquired a new stake in Bank of Nova Scotia during the 3rd quarter valued at $30,000. Quarry LP acquired a new position in shares of Bank of Nova Scotia in the third quarter worth $35,000. Virtus Advisers LLC acquired a new position in shares of Bank of Nova Scotia in the third quarter worth $39,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Bank of Nova Scotia in the third quarter valued at $45,000. Finally, Allworth Financial LP boosted its stake in shares of Bank of Nova Scotia by 122.0% during the third quarter. Allworth Financial LP now owns 715 shares of the bank’s stock valued at $46,000 after acquiring an additional 393 shares during the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BNS shares. 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. TD Securities restated a “hold” rating on shares of Bank of Nova Scotia in a report on Tuesday, March 3rd. Royal Bank Of Canada lifted their price target on shares of 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. Canaccord Genuity Group lowered shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Raymond James Financial began coverage on shares of Bank of Nova Scotia in a research note on Tuesday, November 25th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $106.00.

Bank of Nova Scotia Price Performance

Shares of NYSE:BNS opened at $68.11 on Friday. The company has a market cap of $83.97 billion, a P/E ratio of 14.16, a P/E/G ratio of 0.82 and a beta of 1.10. The business has a fifty day simple moving average of $74.04 and a 200-day simple moving average of $69.87. Bank of Nova Scotia has a 52 week low of $44.09 and a 52 week 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.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its earnings results on Tuesday, February 24th. The bank reported $1.48 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $6.99 billion. During the same period in the prior year, the business posted $1.76 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities research analysts forecast that Bank of Nova Scotia will post 4.91 EPS 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.