SG Americas Securities LLC Invests $1.16 Million in Bank of Nova Scotia (The) $BNS

SG Americas Securities LLC acquired a new position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,768 shares of the bank’s stock, valued at approximately $1,162,000.

Several other large investors have also bought and sold shares of BNS. Vanguard Group Inc. raised its stake 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 worth $4,221,440,000 after acquiring an additional 1,169,073 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Bank of Nova Scotia by 1.7% in 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 in the last quarter. Norges Bank bought a new stake in shares of Bank of Nova Scotia during the 4th quarter valued at approximately $1,368,456,000. FIL Ltd increased its position in Bank of Nova Scotia by 49.5% during the 4th quarter. FIL Ltd now owns 16,489,540 shares of the bank’s stock worth $1,216,157,000 after purchasing an additional 5,461,052 shares in the last quarter. Finally, Geode Capital Management LLC increased 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 worth $923,232,000 after purchasing an additional 799,474 shares in the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Down 0.0%

Shares of BNS opened at $85.36 on Friday. The stock’s 50-day moving average price is $81.05 and its two-hundred day moving average price is $76.02. Bank of Nova Scotia has a 12 month low of $54.31 and a 12 month high of $87.97. The company has a market capitalization of $104.57 billion, a PE ratio of 16.29, a PEG ratio of 1.06 and a beta of 1.11. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $7.13 billion. During the same quarter in the prior year, the firm posted $1.52 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. On average, analysts anticipate that Bank of Nova Scotia will post 6.01 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of Nova Scotia in a report on Friday, May 22nd. Finally, Royal Bank Of Canada increased their price target on 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. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.