Kepler Cheuvreux Suisse SA Has $18.17 Million Stock Holdings in Bank of Nova Scotia (The) $BNS

Key Points

• Kepler Cheuvreux Suisse SA increased its stake in Bank of Nova Scotia by 85.7% in the fourth quarter, buying an additional 113,765 shares and bringing its total holdings to 246,523 shares valued at about $18.17 million.
• Institutional interest in the stock remained active, with several hedge funds and investors adjusting positions; overall, institutional ownership stands at 49.13% of Bank of Nova Scotia shares.
• Analyst sentiment is mixed but generally cautious: the stock has a consensus “Hold” rating and an average price target of $106, while the shares recently traded around $77.49 after the company reported quarterly earnings that beat estimates.

Kepler Cheuvreux Suisse SA raised its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 85.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 246,523 shares of the bank's stock after purchasing an additional 113,765 shares during the period. Kepler Cheuvreux Suisse SA's holdings in Bank of Nova Scotia were worth $18,166,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in shares of Bank of Nova Scotia by 9.6% in the third quarter. EverSource Wealth Advisors LLC now owns 2,373 shares of the bank's stock valued at $153,000 after purchasing an additional 208 shares during the last quarter. Fiera Capital Corp grew its stake in shares of Bank of Nova Scotia by 0.5% in the third quarter. Fiera Capital Corp now owns 45,482 shares of the bank's stock worth $2,940,000 after acquiring an additional 213 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Bank of Nova Scotia by 8.5% in the third quarter. Parallel Advisors LLC now owns 3,326 shares of the bank's stock worth $215,000 after acquiring an additional 261 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Bank of Nova Scotia by 79.2% in the fourth quarter. Fifth Third Bancorp now owns 688 shares of the bank's stock worth $51,000 after acquiring an additional 304 shares during the last quarter. Finally, Cardinal Capital Management grew its stake in shares of Bank of Nova Scotia by 0.5% in the fourth quarter. Cardinal Capital Management now owns 61,711 shares of the bank's stock worth $4,547,000 after acquiring an additional 323 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BNS. TD Securities restated a "hold" rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Royal Bank Of Canada lifted their target price on Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 25th. Weiss Ratings raised Bank of Nova Scotia from a "hold (c+)" rating to a "buy (b)" rating in a research report on Wednesday, February 25th. Finally, Canaccord Genuity Group downgraded Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 9th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $106.00.

Bank of Nova Scotia Stock Down 0.1%

Shares of NYSE:BNS opened at $77.49 on Monday. Bank of Nova Scotia has a 52 week low of $50.12 and a 52 week high of $79.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05. The company's fifty day moving average is $72.76 and its 200-day moving average is $71.93. The company has a market capitalization of $95.23 billion, a PE ratio of 16.11, a P/E/G ratio of 0.94 and a beta of 1.13.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last issued its earnings results on Tuesday, February 24th. The bank reported $1.48 EPS for the quarter, beating the consensus estimate of $1.42 by $0.06. The company had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $6.99 billion. Bank of Nova Scotia had a net margin of 12.40% and a return on equity of 12.49%. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.76 EPS. Equities research analysts predict that Bank of Nova Scotia will post 6.05 earnings per share 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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