Marathon Asset Management Ltd Has $80.81 Million Position in Bank of Nova Scotia (The) $BNS

Marathon Asset Management Ltd decreased its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 5.9% in the 4th quarter, Holdings Channel reports. The fund owned 1,094,126 shares of the bank’s stock after selling 68,177 shares during the quarter. Bank of Nova Scotia accounts for approximately 3.1% of Marathon Asset Management Ltd’s investment portfolio, making the stock its 9th biggest position. Marathon Asset Management Ltd’s holdings in Bank of Nova Scotia were worth $80,811,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its position in shares of Bank of Nova Scotia by 9.6% during the third quarter. EverSource Wealth Advisors LLC now owns 2,373 shares of the bank’s stock worth $153,000 after acquiring an additional 208 shares in the last quarter. Fiera Capital Corp increased its position in shares of Bank of Nova Scotia by 0.5% during the third quarter. Fiera Capital Corp now owns 45,482 shares of the bank’s stock worth $2,940,000 after acquiring an additional 213 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Bank of Nova Scotia by 22.3% during the fourth quarter. Larson Financial Group LLC now owns 1,280 shares of the bank’s stock worth $94,000 after acquiring an additional 233 shares in the last quarter. Parallel Advisors LLC increased 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 worth $215,000 after acquiring an additional 261 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Bank of Nova Scotia by 79.2% during the fourth quarter. Fifth Third Bancorp now owns 688 shares of the bank’s stock worth $51,000 after acquiring an additional 304 shares in the last quarter. Institutional investors own 49.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a research report on Tuesday, March 3rd. Royal Bank Of Canada increased their price objective on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 25th. Weiss Ratings raised shares of Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, February 25th. Finally, Canaccord Genuity Group cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $106.00.

Bank of Nova Scotia Stock Performance

Shares of BNS opened at $77.23 on Wednesday. Bank of Nova Scotia has a 12 month low of $51.00 and a 12 month high of $79.00. The firm has a fifty day simple moving average of $73.16 and a 200 day simple moving average of $72.63. The stock has a market capitalization of $94.92 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 0.93 and a beta of 1.13. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68.

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, topping the consensus estimate of $1.42 by $0.06. Bank of Nova Scotia had a net margin of 12.40% and a return on equity of 12.49%. The business had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $6.99 billion. During the same quarter in the prior year, the company posted $1.76 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. Research analysts forecast that Bank of Nova Scotia will post 6.05 EPS for the current fiscal 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.