Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,652,600 shares of the bank's stock, valued at approximately $230,352,000. Barrow Hanley Mewhinney & Strauss LLC owned about 0.22% of Bank of Nova Scotia at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Swiss RE Ltd. acquired a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at approximately $30,000. Maseco LLP bought a new position in shares of Bank of Nova Scotia in the first quarter valued at $30,000. CoreCap Advisors LLC increased its holdings 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 worth $38,000 after buying an additional 410 shares during the last quarter. Addison Advisors LLC bought a new stake in Bank of Nova Scotia during the second quarter worth $39,000. Finally, Brown Brothers Harriman & Co. bought a new stake in Bank of Nova Scotia during the fourth quarter worth $34,000. Institutional investors own 49.13% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Bank of Nova Scotia in a research report on Friday. They issued an "outperform" rating for the company. Weiss Ratings cut shares of Bank of Nova Scotia from a "buy (a-)" rating to a "buy (b+)" rating in a report on Tuesday, August 18th. Finally, Royal Bank Of Canada raised their target price on shares of 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. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Bank of Nova Scotia has a consensus rating of "Moderate Buy" and a consensus target price of $117.00.
Check Out Our Latest Report on BNS
Bank of Nova Scotia Price Performance
NYSE:BNS opened at $87.56 on Monday. The company has a market cap of $106.72 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.08 and a beta of 1.11. The firm's fifty day moving average price is $87.58 and its two-hundred day moving average price is $79.60. Bank of Nova Scotia has a one year low of $56.55 and a one year high of $92.04. 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 posted its earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.05. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The company had revenue of $7.24 billion during the quarter, compared to analysts' expectations of $7.13 billion. During the same quarter last year, the company posted $1.52 EPS. Bank of Nova Scotia's quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts expect that Bank of Nova Scotia will post 6.03 earnings per share for the current year.
Bank of Nova Scotia Company Profile
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Free Report)
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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