Swiss Life Asset Management Ltd Grows Position in Bank of Nova Scotia (The) $BNS

Key Points

• Swiss Life Asset Management Ltd increased its stake in Bank of Nova Scotia by 18.8% in Q3 to 181,727 shares, worth about $11.77 million according to the latest 13F filing.
• Analysts are mixed: the consensus rating is Hold with a $106 price target (two Buy, four Hold), reflecting recent downgrades and some upward price-target revisions.
• Scotiabank recently beat quarterly estimates with $1.48 EPS and $7.40 billion revenue; the stock has a market cap of $83.97 billion, a P/E of 14.16, and roughly 49.13% institutional ownership.

Swiss Life Asset Management Ltd grew its stake in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 18.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,727 shares of the bank's stock after buying an additional 28,745 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Bank of Nova Scotia were worth $11,767,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Mondrian Investment Partners LTD purchased a new position in shares of Bank of Nova Scotia during the 3rd quarter valued at about $30,000. Quarry LP purchased a new stake in Bank of Nova Scotia in the 3rd quarter worth approximately $35,000. Virtus Advisers LLC bought a new stake in Bank of Nova Scotia during the 3rd quarter worth approximately $39,000. Newbridge Financial Services Group Inc. bought a new stake in Bank of Nova Scotia during the 3rd quarter worth approximately $45,000. Finally, Smartleaf Asset Management LLC lifted its holdings in Bank of Nova Scotia by 3,304.3% during the third quarter. Smartleaf Asset Management LLC now owns 783 shares of the bank's stock valued at $51,000 after purchasing an additional 760 shares in the last quarter. Institutional investors own 49.13% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group lowered shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 9th. Royal Bank Of Canada raised their price objective on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 25th. TD Securities restated a "hold" rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Weiss Ratings raised shares of Bank of Nova Scotia from a "hold (c+)" rating to a "buy (b)" rating in a report on Wednesday, February 25th. Finally, Raymond James Financial initiated coverage on Bank of Nova Scotia in a research note on Tuesday, November 25th. They issued an "outperform" rating for the company. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $106.00.

Bank of Nova Scotia Stock Down 0.9%

Shares of BNS stock opened at $68.11 on Friday. Bank of Nova Scotia has a fifty-two week low of $44.09 and a fifty-two week high of $78.28. The firm has a market capitalization of $83.97 billion, a PE ratio of 14.16, a P/E/G ratio of 0.83 and a beta of 1.10. 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 stock's 50-day simple moving average is $74.04 and its 200-day simple moving average is $69.81.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last released its earnings results on Tuesday, February 24th. The bank reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.06. The firm had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $6.99 billion. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The company's revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.76 earnings per share. Equities analysts expect that Bank of Nova Scotia will post 4.91 earnings per share for the current year.

Bank of Nova Scotia Company Profile

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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