UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Acquires 21,426 Shares of Bank of Nova Scotia (The) $BNS

Key Points

• UBS AM increased its holdings in Bank of Nova Scotia by 1.4%, now owning approximately 1.56 million shares valued at about $73.87 million as of the latest SEC filing.
• Bank of Nova Scotia reported earnings of $1.37 per share for the last quarter, exceeding estimates by $0.09, with revenue growing 13.4% year-over-year despite being below analyst expectations.
• Brokerages have increased their price targets for Bank of Nova Scotia to an average of $86.00, with a general consensus rating of "Hold" across multiple analysts.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 1.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,557,511 shares of the bank's stock after buying an additional 21,426 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.13% of Bank of Nova Scotia worth $73,873,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of BNS. Focus Partners Wealth bought a new position in Bank of Nova Scotia in the 4th quarter valued at $348,000. Nuveen Asset Management LLC raised its position in Bank of Nova Scotia by 0.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,409,616 shares of the bank's stock valued at $75,656,000 after purchasing an additional 11,601 shares during the last quarter. Quantinno Capital Management LP raised its position in Bank of Nova Scotia by 213.7% in the 4th quarter. Quantinno Capital Management LP now owns 53,274 shares of the bank's stock valued at $2,862,000 after purchasing an additional 36,289 shares during the last quarter. Shell Asset Management Co. raised its position in Bank of Nova Scotia by 4.2% in the 4th quarter. Shell Asset Management Co. now owns 42,017 shares of the bank's stock valued at $2,255,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in Bank of Nova Scotia by 1.7% in the 4th quarter. Toronto Dominion Bank now owns 25,425,639 shares of the bank's stock valued at $1,363,619,000 after purchasing an additional 434,771 shares during the last quarter. Institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Trading Up 0.0%

Shares of Bank of Nova Scotia stock traded up $0.02 during trading on Thursday, reaching $64.66. 1,216,058 shares of the company were exchanged, compared to its average volume of 1,996,931. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.66. Bank of Nova Scotia has a twelve month low of $44.09 and a twelve month high of $65.19. The business has a 50-day moving average price of $58.66 and a 200-day moving average price of $53.36. The firm has a market capitalization of $80.22 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 1.49 and a beta of 1.16.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its quarterly earnings data on Tuesday, August 26th. The bank reported $1.37 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $6.85 billion during the quarter, compared to analysts' expectations of $9.29 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. The firm's quarterly revenue was up 13.4% compared to the same quarter last year. Sell-side analysts anticipate that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on BNS. Royal Bank Of Canada lifted their price objective on Bank of Nova Scotia from $80.00 to $86.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 27th. Wall Street Zen upgraded Bank of Nova Scotia from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Bank of Nova Scotia has a consensus rating of "Hold" and an average target price of $86.00.

Bank of Nova Scotia Company Profile

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.