Bank of New York Mellon Corp Purchases Shares of 1,292,470 Bank of Nova Scotia (The) $BNS

Bank of New York Mellon Corp acquired a new stake in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,292,470 shares of the bank's stock, valued at approximately $112,238,000. Bank of New York Mellon Corp owned 0.11% of Bank of Nova Scotia as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Swiss RE Ltd. purchased a new position in Bank of Nova Scotia during the 4th quarter worth approximately $30,000. Maseco LLP purchased a new position in shares of Bank of Nova Scotia during the first quarter worth $30,000. CoreCap Advisors LLC lifted its position in Bank of Nova Scotia by 1,366.7% during the second quarter. CoreCap Advisors LLC now owns 440 shares of the bank's stock valued at $38,000 after purchasing an additional 410 shares during the period. Brown Brothers Harriman & Co. acquired a new position in Bank of Nova Scotia during the fourth quarter valued at $34,000. Finally, Quarry LP purchased a new stake in Bank of Nova Scotia in the third quarter valued at $35,000. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on BNS shares. Royal Bank Of Canada lifted 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 note on Thursday, May 28th. Weiss Ratings lowered Bank of Nova Scotia from a "buy (a-)" rating to a "buy (b+)" rating in a report on Tuesday, August 18th. Finally, Keefe, Bruyette & Woods began coverage on Bank of Nova Scotia in a research report on Friday. They set an "outperform" rating for the company. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $117.00.

Bank of Nova Scotia Stock Down 0.9%

Bank of Nova Scotia stock opened at $86.82 on Tuesday. The stock has a market capitalization of $105.82 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 1.08 and a beta of 1.11. Bank of Nova Scotia has a 12 month low of $57.23 and a 12 month high of $92.04. The business has a 50 day simple moving average of $87.62 and a 200-day simple moving average of $79.69. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, topping 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 business had revenue of $7.24 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same period in the prior year, the company posted $1.52 EPS. 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 6.03 EPS for the current fiscal year.

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.

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