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Sagespring Wealth Partners LLC Invests $229,000 in Bank of Nova Scotia (The) $BNS

Bank of Nova Scotia logo with Finance background

Key Points

  • Sagespring Wealth Partners LLC invested approximately $229,000 in Bank of Nova Scotia, acquiring 4,142 shares during the second quarter.
  • Several institutional investors also increased their stakes, with Sequoia Financial Advisors acquiring $498,000 worth of shares and Vanguard Personalized Indexing Management LLC increasing its stake by 13.7%.
  • Analysts have recently upgraded the stock's rating, with Royal Bank Of Canada raising its price target from $80.00 to $86.00 and classifying it as a "sector perform."
  • Interested in Bank of Nova Scotia? Here are five stocks we like better.

Sagespring Wealth Partners LLC acquired a new position in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,142 shares of the bank's stock, valued at approximately $229,000.

A number of other institutional investors have also made changes to their positions in the business. Sequoia Financial Advisors LLC bought a new position in shares of Bank of Nova Scotia in the second quarter worth about $498,000. Yousif Capital Management LLC increased its stake in shares of Bank of Nova Scotia by 7.7% in the second quarter. Yousif Capital Management LLC now owns 17,116 shares of the bank's stock worth $946,000 after purchasing an additional 1,220 shares during the period. CWM LLC increased its stake in shares of Bank of Nova Scotia by 15.8% in the second quarter. CWM LLC now owns 2,084 shares of the bank's stock worth $115,000 after purchasing an additional 285 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of Bank of Nova Scotia by 13.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,429 shares of the bank's stock worth $1,682,000 after purchasing an additional 3,663 shares during the period. Finally, PDS Planning Inc increased its stake in shares of Bank of Nova Scotia by 2.9% in the second quarter. PDS Planning Inc now owns 7,097 shares of the bank's stock worth $392,000 after purchasing an additional 200 shares during the period. 49.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BNS has been the topic of several research reports. Royal Bank Of Canada boosted their price target on 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. Wall Street Zen upgraded Bank of Nova Scotia from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Bank of Nova Scotia in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $86.00.

View Our Latest Analysis on BNS

Bank of Nova Scotia Trading Down 0.4%

BNS stock opened at $63.75 on Friday. Bank of Nova Scotia has a 1-year low of $44.09 and a 1-year high of $65.52. The firm has a market cap of $79.10 billion, a P/E ratio of 17.14, a P/E/G ratio of 1.46 and a beta of 1.16. The business's 50 day moving average is $62.30 and its 200-day moving average is $55.78. The company has a current ratio of 1.03, a quick 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 released its quarterly earnings data on Tuesday, August 26th. The bank reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.09. Bank of Nova Scotia had a return on equity of 11.61% and a net margin of 9.74%.The company had revenue of $6.85 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period in the prior year, the company posted $1.63 EPS. The company's revenue was up 13.4% compared to the same quarter last year. Equities analysts anticipate that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Bank of Nova Scotia Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Bank of Nova Scotia (NYSE:BNS)

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