The Bank of Nova Scotia (NYSE:BNS) Stock Holdings Increased by Citigroup Inc.

Citigroup Inc. boosted its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 12.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 580,664 shares of the bank’s stock after purchasing an additional 63,528 shares during the period. Citigroup Inc.’s holdings in Bank of Nova Scotia were worth $31,673,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC boosted its stake in shares of Bank of Nova Scotia by 5,380.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank’s stock valued at $216,447,000 after buying an additional 3,899,760 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Bank of Nova Scotia during the second quarter worth $120,463,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Bank of Nova Scotia by 2,455.8% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,521,906 shares of the bank’s stock valued at $69,627,000 after purchasing an additional 1,462,360 shares during the last quarter. Nicola Wealth Management LTD. grew its stake in Bank of Nova Scotia by 53.3% in the second quarter. Nicola Wealth Management LTD. now owns 2,300,000 shares of the bank’s stock valued at $105,156,000 after purchasing an additional 800,000 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in Bank of Nova Scotia by 4.7% in the 2nd quarter. Mackenzie Financial Corp now owns 15,091,880 shares of the bank’s stock worth $690,438,000 after purchasing an additional 683,946 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. UBS Group upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Monday, November 18th. Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Barclays upgraded Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. Finally, Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

Bank of Nova Scotia Trading Up 0.2 %

Bank of Nova Scotia stock opened at $56.55 on Tuesday. The Bank of Nova Scotia has a 52 week low of $41.80 and a 52 week high of $56.79. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $70.37 billion, a PE ratio of 13.53, a PEG ratio of 1.52 and a beta of 1.05. The business’s 50-day simple moving average is $53.49 and its 200-day simple moving average is $49.49.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 EPS for the quarter, topping the consensus estimate of $1.62 by $0.01. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The company had revenue of $8.36 billion for the quarter, compared to the consensus estimate of $8.53 billion. During the same period in the previous year, the business posted $1.30 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts forecast that The Bank of Nova Scotia will post 4.53 earnings per share for the current year.

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.