HB Wealth Management LLC Boosts Holdings in Bank of Nova Scotia (The) $BNS

HB Wealth Management LLC boosted its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 18.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,224 shares of the bank’s stock after buying an additional 818 shares during the quarter. HB Wealth Management LLC’s holdings in Bank of Nova Scotia were worth $289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of BNS. Wealth Enhancement Advisory Services LLC boosted its stake in Bank of Nova Scotia by 54.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,629 shares of the bank’s stock worth $1,216,000 after buying an additional 8,018 shares during the period. GAMMA Investing LLC boosted its stake in Bank of Nova Scotia by 4,643.2% during the first quarter. GAMMA Investing LLC now owns 9,012 shares of the bank’s stock worth $427,000 after buying an additional 8,822 shares during the period. Independence Bank of Kentucky boosted its stake in shares of Bank of Nova Scotia by 38.4% during the first quarter. Independence Bank of Kentucky now owns 1,175 shares of the bank’s stock valued at $56,000 after purchasing an additional 326 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Bank of Nova Scotia by 54.0% during the first quarter. Farther Finance Advisors LLC now owns 4,331 shares of the bank’s stock valued at $203,000 after purchasing an additional 1,518 shares during the period. Finally, Compagnie Lombard Odier SCmA purchased a new stake in shares of Bank of Nova Scotia during the first quarter valued at $52,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BNS shares. Royal Bank Of Canada boosted their target price on shares of 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 raised shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Bank of Nova Scotia in a research note on Saturday, September 27th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Bank of Nova Scotia Stock Performance

BNS stock opened at $65.34 on Tuesday. The company has a market capitalization of $81.06 billion, a P/E ratio of 17.56, a PEG ratio of 1.49 and a beta of 1.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50-day moving average price of $60.85 and a 200 day moving average price of $54.83. Bank of Nova Scotia has a 1-year low of $44.09 and a 1-year high of $65.52.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its earnings results on Tuesday, August 26th. The bank reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.09. The business had revenue of $6.85 billion during the quarter, compared to the consensus estimate of $9.29 billion. Bank of Nova Scotia had a net margin of 9.74% and a return on equity of 11.61%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.63 earnings per share. As a group, equities research analysts forecast that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

About Bank of Nova Scotia

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.