Advisors Management Group Inc. ADV Sells 20,265 Shares of Bank of Nova Scotia (The) $BNS

Advisors Management Group Inc. ADV trimmed its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 40.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 30,150 shares of the bank’s stock after selling 20,265 shares during the period. Advisors Management Group Inc. ADV’s holdings in Bank of Nova Scotia were worth $2,222,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BNS. AQR Capital Management LLC lifted its holdings 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 valued at $911,000 after buying an additional 10,056 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Bank of Nova Scotia in the 2nd quarter worth about $330,000. MAI Capital Management grew its stake in Bank of Nova Scotia by 27.4% in the 2nd quarter. MAI Capital Management now owns 1,543 shares of the bank’s stock worth $85,000 after acquiring an additional 332 shares in the last quarter. American Century Companies Inc. increased its position in shares of Bank of Nova Scotia by 7.4% during the second quarter. American Century Companies Inc. now owns 386,284 shares of the bank’s stock worth $21,360,000 after acquiring an additional 26,664 shares during the period. Finally, Advisors Asset Management Inc. increased its position in shares of Bank of Nova Scotia by 20.0% during the second quarter. Advisors Asset Management Inc. now owns 2,319 shares of the bank’s stock worth $128,000 after acquiring an additional 386 shares during the period. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Stock Down 1.2%

Shares of Bank of Nova Scotia stock opened at $67.73 on Friday. The company has a market cap of $83.40 billion, a P/E ratio of 14.08, a PEG ratio of 0.82 and a beta of 1.10. Bank of Nova Scotia has a 52-week low of $44.09 and a 52-week high of $78.28. 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 firm’s 50 day moving average price is $73.65 and its 200-day moving average price is $70.06.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, February 24th. The bank reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $6.99 billion. During the same period in the prior year, the firm posted $1.76 earnings per share. The business’s quarterly revenue was up 2.9% on a year-over-year basis. On average, sell-side analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on BNS. TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Canaccord Genuity Group downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. 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. Finally, Royal Bank Of Canada increased their target price on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Hold” and a consensus price target 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.