SG Americas Securities LLC Takes $1.16 Million Position in Bank of Nova Scotia (The) $BNS

SG Americas Securities LLC acquired a new position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 16,768 shares of the bank’s stock, valued at approximately $1,162,000.

A number of other hedge funds have also bought and sold shares of BNS. Swiss RE Ltd. acquired a new position in Bank of Nova Scotia in the fourth quarter valued at $30,000. Brown Brothers Harriman & Co. acquired a new stake in Bank of Nova Scotia during the 4th quarter worth about $34,000. Quarry LP bought a new position in shares of Bank of Nova Scotia in the 3rd quarter worth about $35,000. Virtus Advisers LLC bought a new position in shares of Bank of Nova Scotia in the 3rd quarter worth about $39,000. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Bank of Nova Scotia in the 4th quarter valued at about $50,000. Institutional investors own 49.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BNS. 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. Royal Bank Of Canada lifted their target price on Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a report on Thursday, May 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Bank of Nova Scotia in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $117.00.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $85.36 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. The firm has a fifty day simple moving average of $81.05 and a two-hundred day simple moving average of $76.02. Bank of Nova Scotia has a 12 month low of $54.31 and a 12 month high of $87.97. The firm has a market capitalization of $104.57 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 1.06 and a beta of 1.11.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. The firm had revenue of $7.24 billion for the quarter, compared to analyst estimates of $7.13 billion. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $1.52 earnings per share. Analysts forecast that Bank of Nova Scotia will post 6.01 EPS for the current fiscal year.

About Bank of Nova Scotia

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.