Bank of New York Mellon Corp Sells 78,770 Shares of Bank of Nova Scotia (The) $BNS

Bank of New York Mellon Corp lessened its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 6.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,205,101 shares of the bank’s stock after selling 78,770 shares during the period. Bank of New York Mellon Corp’s holdings in Bank of Nova Scotia were worth $88,804,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Bank of Nova Scotia by 2.1% during 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 during the period. Canerector Inc. raised its position in 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 worth $1,745,356,000 after acquiring an additional 26,697,000 shares during the period. Norges Bank purchased a new stake in shares of Bank of Nova Scotia in the fourth quarter worth $1,368,456,000. TD Asset Management Inc increased its stake in shares of Bank of Nova Scotia by 1.3% in the third quarter. TD Asset Management Inc now owns 18,364,021 shares of the bank’s stock worth $1,187,709,000 after purchasing an additional 229,990 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Bank of Nova Scotia by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 12,259,989 shares of the bank’s stock worth $923,232,000 after purchasing an additional 799,474 shares in the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Up 0.5%

NYSE:BNS opened at $80.98 on Tuesday. The company has a market cap of $99.34 billion, a PE ratio of 15.45, a P/E/G ratio of 0.99 and a beta of 1.12. Bank of Nova Scotia has a twelve month low of $53.72 and a twelve month high of $82.22. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. The company’s 50 day moving average is $76.06 and its two-hundred day moving average is $73.96.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 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 the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 EPS. Analysts anticipate that Bank of Nova Scotia will post 6.05 EPS for the current year.

Analysts Set New Price Targets

BNS has been the subject of several research analyst reports. Royal Bank Of Canada raised their target price 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, May 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of Nova Scotia in a research report on Friday, May 22nd. Canaccord Genuity Group lowered shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, TD Securities reiterated a “hold” rating on shares of Bank of Nova Scotia in a report on Tuesday, March 3rd. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of Nova Scotia 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.