Bank of Nova Scotia (The) $BNS Shares Bought by Acadian Asset Management LLC

Acadian Asset Management LLC boosted its stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 1,529.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,528,800 shares of the bank’s stock after buying an additional 1,435,000 shares during the quarter. Acadian Asset Management LLC owned approximately 0.12% of Bank of Nova Scotia worth $84,355,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in BNS. Scheer Rowlett & Associates Investment Management Ltd. boosted its holdings in Bank of Nova Scotia by 2.9% during the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,188,376 shares of the bank’s stock valued at $65,755,000 after acquiring an additional 33,800 shares during the period. PCJ Investment Counsel Ltd. grew its holdings in shares of Bank of Nova Scotia by 48.1% during the second quarter. PCJ Investment Counsel Ltd. now owns 51,100 shares of the bank’s stock worth $2,827,000 after purchasing an additional 16,590 shares during the last quarter. Cypress Capital Management LLC WY acquired a new stake in shares of Bank of Nova Scotia in the second quarter valued at approximately $33,000. AGF Management Ltd. acquired a new stake in shares of Bank of Nova Scotia during the second quarter worth about $21,803,000. Finally, Metis Global Partners LLC raised its stake in shares of Bank of Nova Scotia by 6.2% during the second quarter. Metis Global Partners LLC now owns 55,460 shares of the bank’s stock worth $3,067,000 after purchasing an additional 3,226 shares during the last quarter. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BNS has been the subject of a number of recent analyst reports. Royal Bank Of Canada raised their target price on Bank of Nova Scotia from $80.00 to $86.00 and gave the company a “sector perform” rating in a report 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 reiterated a “buy (b-)” rating on shares of Bank of Nova Scotia in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Hold” and a consensus price target of $86.00.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $66.66 on Monday. The business has a 50 day simple moving average of $64.43 and a 200 day simple moving average of $57.87. The firm has a market capitalization of $82.52 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 1.49 and a beta of 1.17. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.03 and a quick ratio of 1.03. Bank of Nova Scotia has a 12-month low of $44.09 and a 12-month high of $66.70.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its earnings results on Tuesday, August 26th. The bank reported $1.37 earnings per share (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 firm had revenue of $6.85 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period in the previous year, the company earned $1.63 earnings per share. Bank of Nova Scotia’s revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts anticipate that Bank of Nova Scotia will post 4.91 EPS for the current year.

Bank of Nova Scotia 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.