Vident Advisory LLC Buys 7,376 Shares of Bank of Nova Scotia (The) $BNS

Key Points

• Vident Advisory LLC increased its holdings in Bank of Nova Scotia by 158.7% during the first quarter, now owning 12,024 shares valued at approximately $570,000.
• Research firms have upgraded Bank of Nova Scotia's stock, with the average target price now at $86.00, indicating a shift in investment sentiment.
• In its latest earnings report, Bank of Nova Scotia reported earnings per share of $1.37, surpassing analysts' estimates, although revenue fell short of expectations at $6.85 billion.

Vident Advisory LLC increased its position in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 158.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,024 shares of the bank's stock after buying an additional 7,376 shares during the period. Vident Advisory LLC's holdings in Bank of Nova Scotia were worth $570,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Magnetar Financial LLC acquired a new position in Bank of Nova Scotia during the 1st quarter valued at $1,231,000. Canada Pension Plan Investment Board raised its stake in Bank of Nova Scotia by 141.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 8,364,411 shares of the bank's stock valued at $396,650,000 after purchasing an additional 4,894,754 shares during the last quarter. OMERS ADMINISTRATION Corp raised its stake in Bank of Nova Scotia by 1.7% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 466,940 shares of the bank's stock valued at $22,136,000 after purchasing an additional 8,007 shares during the last quarter. Transamerica Financial Advisors LLC raised its stake in Bank of Nova Scotia by 23.1% during the 1st quarter. Transamerica Financial Advisors LLC now owns 6,199 shares of the bank's stock valued at $294,000 after purchasing an additional 1,165 shares during the last quarter. Finally, Samalin Investment Counsel LLC raised its stake in Bank of Nova Scotia by 15.3% during the 1st quarter. Samalin Investment Counsel LLC now owns 12,383 shares of the bank's stock valued at $587,000 after purchasing an additional 1,643 shares during the last quarter. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Price Performance

Shares of NYSE BNS traded down $0.89 during mid-day trading on Friday, hitting $63.39. 1,335,582 shares of the stock were exchanged, compared to its average volume of 1,940,702. The company has a market cap of $78.65 billion, a P/E ratio of 17.04, a PEG ratio of 1.48 and a beta of 1.16. The stock's fifty day simple moving average is $57.89 and its two-hundred day simple moving average is $52.96. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.03. Bank of Nova Scotia has a twelve month low of $44.09 and a twelve month high of $64.38.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last posted its quarterly earnings data on Tuesday, August 26th. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.09. The company had revenue of $6.85 billion during the quarter, compared to analyst estimates of $9.29 billion. Bank of Nova Scotia had a net margin of 9.74% and a return on equity of 11.61%. The company's revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the business posted $1.63 earnings per share. As a group, analysts forecast that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BNS shares. Wall Street Zen upgraded shares of Bank of Nova Scotia from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Royal Bank Of Canada upped their target price on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 27th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $86.00.

Bank of Nova Scotia Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.