Kepler Cheuvreux Suisse SA Takes $8.58 Million Position in Bank of Nova Scotia (The) $BNS

Kepler Cheuvreux Suisse SA purchased a new position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 132,758 shares of the bank’s stock, valued at approximately $8,583,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Canerector Inc. boosted its stake in Bank of Nova Scotia by 8,899.0% during the 3rd quarter. Canerector Inc. now owns 26,997,000 shares of the bank’s stock worth $1,745,356,000 after purchasing an additional 26,697,000 shares during the last quarter. Norges Bank acquired a new stake in shares of Bank of Nova Scotia in the second quarter valued at about $838,738,000. JPMorgan Chase & Co. lifted its stake in shares of Bank of Nova Scotia by 83.4% in the second quarter. JPMorgan Chase & Co. now owns 13,148,255 shares of the bank’s stock worth $726,704,000 after buying an additional 5,979,338 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Bank of Nova Scotia by 44.3% in the third quarter. CIBC Asset Management Inc now owns 9,800,305 shares of the bank’s stock worth $635,730,000 after buying an additional 3,007,407 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its position in Bank of Nova Scotia by 555.8% during the second quarter. OMERS ADMINISTRATION Corp now owns 3,062,126 shares of the bank’s stock worth $168,984,000 after acquiring an additional 2,595,186 shares during the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BNS. Weiss Ratings raised shares of Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research note 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 note on Monday. TD Securities restated a “hold” rating on shares of Bank of Nova Scotia in a report on Tuesday, March 3rd. Raymond James Financial assumed coverage on Bank of Nova Scotia in a research report on Tuesday, November 25th. They issued an “outperform” rating for the company. Finally, Royal Bank Of Canada lifted their price objective on 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. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $106.00.

Bank of Nova Scotia Trading Up 0.9%

Shares of BNS opened at $71.54 on Wednesday. Bank of Nova Scotia has a 12-month low of $44.09 and a 12-month high of $78.28. The firm has a market capitalization of $88.19 billion, a P/E ratio of 14.87, a P/E/G ratio of 0.86 and a beta of 1.10. The firm has a 50-day moving average price of $74.63 and a 200 day moving average price of $69.47. 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 issued its earnings results on Tuesday, February 24th. The bank reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.06. The company had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $6.99 billion. Bank of Nova Scotia had a net margin of 12.40% and a return on equity of 12.49%. Bank of Nova Scotia’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.76 earnings per share. Sell-side analysts forecast that Bank of Nova Scotia will post 4.91 EPS for the current 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.