Creative Planning Grows Stake in Bank of Nova Scotia (The) $BNS

Creative Planning grew its stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 40.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,962 shares of the bank’s stock after purchasing an additional 16,107 shares during the period. Creative Planning’s holdings in Bank of Nova Scotia were worth $3,093,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Cypress Capital Management LLC WY purchased a new stake in Bank of Nova Scotia during the 2nd quarter valued at $33,000. MAI Capital Management increased its position in Bank of Nova Scotia by 40.7% during the first quarter. MAI Capital Management now owns 1,211 shares of the bank’s stock valued at $57,000 after acquiring an additional 350 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Bank of Nova Scotia in the first quarter valued at $69,000. CWM LLC raised its stake in shares of Bank of Nova Scotia by 15.8% in the second quarter. CWM LLC now owns 2,084 shares of the bank’s stock valued at $115,000 after acquiring an additional 285 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Bank of Nova Scotia by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,343 shares of the bank’s stock worth $159,000 after acquiring an additional 336 shares during the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Wall Street Analyst Weigh In

BNS has been the topic of several analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bank of Nova Scotia in a report on Wednesday, October 8th. Wall Street Zen upgraded Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Royal Bank Of Canada upped their target price on 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. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Bank of Nova Scotia presently has a consensus rating of “Hold” and a consensus price target of $86.00.

Bank of Nova Scotia Trading Up 0.4%

Shares of BNS opened at $66.64 on Monday. Bank of Nova Scotia has a 1-year low of $44.09 and a 1-year high of $68.10. The company has a 50-day moving average of $65.19 and a 200 day moving average of $59.10. The firm has a market capitalization of $82.38 billion, a price-to-earnings ratio of 17.91, a PEG 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 (NYSE:BNS) (TSE:BNS) last issued 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. Bank of Nova Scotia had a net margin of 9.74% and a return on equity of 11.61%. The business had revenue of $6.85 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same period in the prior year, the firm earned $1.63 EPS. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, research analysts expect that Bank of Nova Scotia will post 4.91 EPS 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.