Bank of Nova Scotia (The) $BNS Shares Purchased by Shell Asset Management Co.

Shell Asset Management Co. boosted its holdings in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 54.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,509 shares of the bank's stock after purchasing an additional 21,606 shares during the quarter. Shell Asset Management Co.'s holdings in Bank of Nova Scotia were worth $3,395,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BNS. GAMMA Investing LLC boosted its holdings in Bank of Nova Scotia by 4,643.2% in the first quarter. GAMMA Investing LLC now owns 9,012 shares of the bank's stock worth $427,000 after purchasing an additional 8,822 shares during the period. Farther Finance Advisors LLC boosted its holdings in Bank of Nova Scotia by 54.0% in the first quarter. Farther Finance Advisors LLC now owns 4,331 shares of the bank's stock worth $203,000 after purchasing an additional 1,518 shares during the period. Compagnie Lombard Odier SCmA acquired a new position in Bank of Nova Scotia in the first quarter worth $52,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Bank of Nova Scotia by 134.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 53,015 shares of the bank's stock worth $2,514,000 after purchasing an additional 30,386 shares during the period. Finally, Dynamic Advisor Solutions LLC boosted its holdings in shares of Bank of Nova Scotia by 14.8% during the first quarter. Dynamic Advisor Solutions LLC now owns 4,634 shares of the bank's stock valued at $220,000 after acquiring an additional 596 shares during the period. Institutional investors and hedge funds own 49.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BNS. Royal Bank Of Canada boosted their price target on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Wall Street Zen raised shares of Bank of Nova Scotia from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Bank of Nova Scotia in a report on Saturday, September 27th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $86.00.

Bank of Nova Scotia Stock Performance

BNS stock opened at $64.22 on Wednesday. The company has a market capitalization of $79.67 billion, a P/E ratio of 17.26, a PEG ratio of 1.50 and a beta of 1.16. The company has a 50-day simple moving average of $61.01 and a 200 day simple moving average of $54.89. Bank of Nova Scotia has a fifty-two week low of $44.09 and a fifty-two week high of $65.52. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.66.

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 business had revenue of $6.85 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.63 earnings per share. Sell-side analysts predict that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Bank of Nova Scotia Company 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.

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