WCG Wealth Advisors LLC Takes Position in Bank of Nova Scotia (The) $BNS

WCG Wealth Advisors LLC bought a new stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the fourth quarter, Holdings Channel reports. The institutional investor bought 12,145 shares of the bank’s stock, valued at approximately $895,000.

A number of other large investors also recently modified their holdings of BNS. Canerector Inc. lifted its holdings 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 valued at $1,745,356,000 after purchasing an additional 26,697,000 shares in the last quarter. Norges Bank bought a new position in shares of Bank of Nova Scotia in the fourth quarter valued at approximately $1,368,456,000. Zurich Insurance Group Ltd FI bought a new position in shares of Bank of Nova Scotia in the third quarter valued at approximately $138,394,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Bank of Nova Scotia by 30.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,690,883 shares of the bank’s stock valued at $497,197,000 after purchasing an additional 1,772,608 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Bank of Nova Scotia by 2.1% in the fourth 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 in the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

NYSE:BNS opened at $80.62 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04. The business has a fifty day simple moving average of $75.82 and a two-hundred day simple moving average of $73.83. Bank of Nova Scotia has a 1 year low of $53.52 and a 1 year high of $82.22. The company has a market capitalization of $98.90 billion, a P/E ratio of 15.39, a P/E/G ratio of 0.99 and a beta of 1.12.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The business had revenue of $7.24 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same period last year, the business posted $1.52 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts expect that Bank of Nova Scotia will post 6.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BNS. Canaccord Genuity Group lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Royal Bank Of Canada lifted their price target 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. TD Securities reiterated a “hold” rating on shares of Bank of Nova Scotia in a report on Tuesday, March 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of Nova Scotia in a report on Friday, May 22nd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of “Hold” and a consensus target price 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.