UBS Group AG Has $68.36 Million Holdings in Bank of Nova Scotia (The) $BNS

UBS Group AG cut its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 9.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 927,693 shares of the bank’s stock after selling 93,538 shares during the quarter. UBS Group AG’s holdings in Bank of Nova Scotia were worth $68,362,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BNS. AQR Capital Management LLC boosted its position in Bank of Nova Scotia by 111.2% during the 1st quarter. AQR Capital Management LLC now owns 19,096 shares of the bank’s stock worth $911,000 after acquiring an additional 10,056 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Bank of Nova Scotia during the 2nd quarter valued at about $330,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Bank of Nova Scotia by 42.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,165 shares of the bank’s stock valued at $120,000 after buying an additional 649 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Bank of Nova Scotia by 2.1% during the 2nd quarter. Sei Investments Co. now owns 21,212 shares of the bank’s stock valued at $1,172,000 after buying an additional 434 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Bank of Nova Scotia by 61.1% during the 2nd quarter. Quantinno Capital Management LP now owns 66,962 shares of the bank’s stock valued at $3,701,000 after buying an additional 25,400 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Down 1.8%

BNS opened at $76.58 on Tuesday. The business has a 50 day moving average price of $72.67 and a 200 day moving average price of $71.65. Bank of Nova Scotia has a twelve month low of $49.85 and a twelve month high of $78.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $94.11 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 0.94 and a beta of 1.13.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted 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 during the quarter, compared to analyst estimates of $6.99 billion. During the same period in the previous year, the company earned $1.76 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Research analysts forecast that Bank of Nova Scotia will post 6.04 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada lifted their price target on 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. Weiss Ratings upgraded Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, February 25th. TD Securities reiterated a “hold” rating on shares of Bank of Nova Scotia in a report on Tuesday, March 3rd. Finally, Canaccord Genuity Group lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. 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.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $106.00.

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.