Bank of Nova Scotia (The) $BNS Shares Acquired by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC raised its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 158.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 17,634 shares of the bank’s stock after buying an additional 10,813 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Bank of Nova Scotia were worth $1,299,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Citigroup Inc. increased its stake in Bank of Nova Scotia by 55.4% in the 3rd quarter. Citigroup Inc. now owns 1,517,072 shares of the bank’s stock valued at $98,118,000 after buying an additional 540,526 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Bank of Nova Scotia by 30.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,690,883 shares of the bank’s stock valued at $497,197,000 after buying an additional 1,772,608 shares during the period. First National Trust Co increased its stake in Bank of Nova Scotia by 54.5% in the 3rd quarter. First National Trust Co now owns 44,415 shares of the bank’s stock valued at $2,871,000 after buying an additional 15,676 shares during the period. Canerector Inc. increased its stake in Bank of Nova Scotia by 8,899.0% in the 3rd quarter. Canerector Inc. now owns 26,997,000 shares of the bank’s stock valued at $1,745,356,000 after buying an additional 26,697,000 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its stake in Bank of Nova Scotia by 17.0% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 285,843 shares of the bank’s stock valued at $21,109,000 after buying an additional 41,443 shares during the period. 49.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BNS shares. TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. 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 reissued a “buy (b)” rating on shares of Bank of Nova Scotia in a research note on Friday, May 22nd. Finally, Royal Bank Of Canada boosted 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 note on Thursday. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Hold” and a consensus price target of $117.00.

Bank of Nova Scotia Price Performance

Shares of NYSE BNS opened at $80.07 on Friday. The firm has a market capitalization of $98.23 billion, a P/E ratio of 15.28, a PEG ratio of 1.02 and a beta of 1.13. Bank of Nova Scotia has a one year low of $52.44 and a one year high of $82.22. The company’s fifty day moving average is $74.69 and its two-hundred day moving average is $73.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.05 and a current ratio of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, topping the consensus estimate of $1.42 by $0.05. The company had revenue of $7.24 billion for the quarter, compared to analyst estimates 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 was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.52 EPS. Analysts forecast that Bank of Nova Scotia will post 6.05 EPS for the current fiscal 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.