Deutsche Bank AG bought a new stake in 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 & Exchange Commission. The fund bought 2,671,719 shares of the bank's stock, valued at approximately $232,012,000. Deutsche Bank AG owned 0.22% of Bank of Nova Scotia as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Bank of Nova Scotia during the 4th quarter worth approximately $1,368,456,000. FIL Ltd lifted its holdings in shares of Bank of Nova Scotia by 49.5% in the 4th quarter. FIL Ltd now owns 16,489,540 shares of the bank's stock worth $1,216,157,000 after purchasing an additional 5,461,052 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Bank of Nova Scotia by 3,120.1% in the 4th quarter. AQR Capital Management LLC now owns 3,556,295 shares of the bank's stock worth $262,284,000 after purchasing an additional 3,445,856 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Bank of Nova Scotia during the 3rd quarter valued at approximately $138,394,000. Finally, Alberta Investment Management Corp acquired a new position in Bank of Nova Scotia during the 2nd quarter valued at approximately $177,193,000. 49.13% of the stock is owned by institutional investors.
Bank of Nova Scotia Price Performance
NYSE BNS opened at $90.22 on Wednesday. The company has a 50-day moving average price of $87.31 and a two-hundred day moving average price of $79.36. Bank of Nova Scotia has a 52 week low of $56.54 and a 52 week high of $92.04. The stock has a market cap of $109.96 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 1.14 and a beta of 1.11. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69.
Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last released its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.05. The company had revenue of $7.24 billion for the quarter, compared to analysts' expectations of $7.13 billion. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The business's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 earnings per share. Analysts forecast that Bank of Nova Scotia will post 5.98 EPS for the current year.
Wall Street Analysts Forecast Growth
BNS has been the topic of several analyst reports. Weiss Ratings raised Bank of Nova Scotia from a "buy (b)" rating to a "buy (a-)" rating in a research report on Monday, August 3rd. Royal Bank Of Canada boosted their price target on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the company a "sector perform" rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Bank of Nova Scotia has a consensus rating of "Moderate Buy" and a consensus target price of $117.00.
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Bank of Nova Scotia 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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