Ritholtz Wealth Management Purchases 6,750 Shares of Bank of Nova Scotia (The) $BNS

Ritholtz Wealth Management raised its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 31.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,421 shares of the bank’s stock after acquiring an additional 6,750 shares during the period. Ritholtz Wealth Management’s holdings in Bank of Nova Scotia were worth $1,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. lifted its position in Bank of Nova Scotia by 30.0% during 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 during the last quarter. Canerector Inc. grew its stake in shares of 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 worth $1,745,356,000 after buying an additional 26,697,000 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in shares of 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 worth $21,109,000 after buying an additional 41,443 shares during the last quarter. HAP Trading LLC bought a new stake in shares of Bank of Nova Scotia in the 2nd quarter worth about $3,926,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Bank of Nova Scotia by 3.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,717,878 shares of the bank’s stock valued at $369,664,000 after buying an additional 183,789 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BNS has been the subject of a number of analyst reports. Canaccord Genuity Group downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Royal Bank Of Canada upped their price objective on Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research report on Thursday, May 28th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of Nova Scotia in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $117.00.

Bank of Nova Scotia Trading Down 0.2%

Shares of BNS opened at $86.32 on Friday. Bank of Nova Scotia has a twelve month low of $54.29 and a twelve month high of $87.97. The company has a market cap of $105.74 billion, a P/E ratio of 16.47, a P/E/G ratio of 1.07 and a beta of 1.12. 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 fifty day simple moving average is $80.01 and its 200-day simple moving average is $75.54.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. The firm had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $7.13 billion. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 EPS. As a group, analysts expect that Bank of Nova Scotia will post 6.01 EPS for the current 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.