Bank of Nova Scotia (The) $BNS Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp reduced its stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,698,686 shares of the bank’s stock after selling 444,443 shares during the period. Bank of Nova Scotia accounts for about 1.2% of Mackenzie Financial Corp’s holdings, making the stock its 17th biggest position. Mackenzie Financial Corp’s holdings in Bank of Nova Scotia were worth $950,240,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board grew its holdings in shares of Bank of Nova Scotia by 1,073.1% during the second quarter. Public Sector Pension Investment Board now owns 1,410,536 shares of the bank’s stock worth $77,840,000 after purchasing an additional 1,290,300 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Bank of Nova Scotia by 315.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,873,828 shares of the bank’s stock worth $159,014,000 after purchasing an additional 2,181,312 shares in the last quarter. Addenda Capital Inc. lifted its holdings in shares of Bank of Nova Scotia by 13.1% in the 3rd quarter. Addenda Capital Inc. now owns 1,094,330 shares of the bank’s stock valued at $70,748,000 after purchasing an additional 126,409 shares during the last quarter. Amundi lifted its holdings in shares of Bank of Nova Scotia by 11.7% in the 2nd quarter. Amundi now owns 4,728,837 shares of the bank’s stock valued at $285,228,000 after purchasing an additional 495,797 shares during the last quarter. Finally, Citigroup Inc. boosted its position in shares of 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 purchasing an additional 540,526 shares during the period. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Up 0.9%

BNS opened at $71.54 on Wednesday. Bank of Nova Scotia has a 52 week low of $44.09 and a 52 week high of $78.28. The business has a 50 day moving average price of $74.63 and a two-hundred day moving average price of $69.47. 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 company has a market cap of $88.19 billion, a PE ratio of 14.87, a P/E/G ratio of 0.86 and a beta of 1.10.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its earnings results on Tuesday, February 24th. The bank reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.06. The company had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $6.99 billion. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The company’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the business posted $1.76 EPS. As a group, research analysts anticipate that Bank of Nova Scotia will post 4.91 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BNS. Weiss Ratings upgraded Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, February 25th. Canaccord Genuity Group cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Monday. TD Securities restated a “hold” rating on shares of Bank of Nova Scotia in a research report on Tuesday, March 3rd. Raymond James Financial initiated coverage on shares of Bank of Nova Scotia in a report on Tuesday, November 25th. They issued an “outperform” rating on the stock. Finally, Royal Bank Of Canada upped their price target on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average 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.