Bank of Nova Scotia (The) $BNS Stock Holdings Reduced by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC reduced its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 6.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 752,514 shares of the bank’s stock after selling 48,810 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned about 0.06% of Bank of Nova Scotia worth $48,661,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in BNS. Vanguard Group Inc. lifted its stake in Bank of Nova Scotia by 1.9% in the third quarter. Vanguard Group Inc. now owns 56,068,464 shares of the bank’s stock valued at $3,625,499,000 after acquiring an additional 1,063,127 shares during the last quarter. Canerector Inc. lifted its position in shares of Bank of Nova Scotia by 8,899.0% in the third quarter. Canerector Inc. now owns 26,997,000 shares of the bank’s stock worth $1,745,356,000 after buying an additional 26,697,000 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Bank of Nova Scotia by 1.3% during the 3rd quarter. TD Asset Management Inc now owns 18,364,021 shares of the bank’s stock valued at $1,187,709,000 after acquiring an additional 229,990 shares during the last quarter. Norges Bank acquired a new stake in Bank of Nova Scotia in the 2nd quarter worth approximately $838,738,000. Finally, Scotia Capital Inc. grew its holdings in Bank of Nova Scotia by 0.6% during the second quarter. Scotia Capital Inc. now owns 14,231,690 shares of the bank’s stock valued at $786,729,000 after purchasing an additional 90,158 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock opened at $72.14 on Friday. 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 stock has a market cap of $88.93 billion, a price-to-earnings ratio of 15.00, a P/E/G ratio of 0.87 and a beta of 1.10. The business’s 50-day simple moving average is $74.74 and its 200 day simple moving average is $69.18. Bank of Nova Scotia has a 12-month low of $44.09 and a 12-month high of $78.28.

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, beating the consensus estimate of $1.42 by $0.06. The firm had revenue of $7.40 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.76 earnings per share. As a group, research analysts anticipate that Bank of Nova Scotia will post 4.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BNS shares. Raymond James Financial initiated coverage on shares of Bank of Nova Scotia in a report on Tuesday, November 25th. They set an “outperform” rating for the company. Weiss Ratings upgraded shares of Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, February 25th. Royal Bank Of Canada increased their price target 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 analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $106.00.

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.