Bank of Nova Scotia (The) $BNS Stake Reduced by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. trimmed its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 8.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,882,429 shares of the bank’s stock after selling 173,517 shares during the quarter. Bank of Nova Scotia comprises about 3.9% of Mufg Securities Canada LTD.’s holdings, making the stock its 8th biggest holding. Mufg Securities Canada LTD. owned 0.15% of Bank of Nova Scotia worth $138,866,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Bank of Nova Scotia by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 57,237,537 shares of the bank’s stock valued at $4,221,440,000 after purchasing an additional 1,169,073 shares during the last quarter. Canerector Inc. grew its position 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 valued at $1,745,356,000 after purchasing an additional 26,697,000 shares during the last quarter. TD Asset Management Inc grew its position in Bank of Nova Scotia by 1.7% during the 4th quarter. TD Asset Management Inc now owns 18,674,585 shares of the bank’s stock valued at $1,379,120,000 after purchasing an additional 310,564 shares during the last quarter. Norges Bank purchased a new stake in Bank of Nova Scotia during the 4th quarter valued at about $1,368,456,000. Finally, Geode Capital Management LLC grew its position in Bank of Nova Scotia by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 12,259,989 shares of the bank’s stock valued at $923,232,000 after purchasing an additional 799,474 shares during the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Price Performance

BNS opened at $84.02 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $102.91 billion, a P/E ratio of 16.03, a P/E/G ratio of 1.03 and a beta of 1.12. The company’s 50-day simple moving average is $77.17 and its two-hundred day simple moving average is $74.41. Bank of Nova Scotia has a 52-week low of $53.74 and a 52-week high of $84.12.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.05. The business had revenue of $7.24 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 EPS. As a group, analysts predict that Bank of Nova Scotia will post 6.05 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on BNS shares. Royal Bank Of Canada increased their price objective on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research report on Thursday, May 28th. Canaccord Genuity Group cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of Nova Scotia in a research note on Friday, May 22nd. Finally, TD Securities restated a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Two equities research 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.com, Bank of Nova Scotia presently has an average rating of “Hold” and an average price target of $117.00.

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.