Bank of Nova Scotia (The) $BNS Shares Bought by American Century Companies Inc.

American Century Companies Inc. grew its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 16.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 450,859 shares of the bank’s stock after acquiring an additional 64,575 shares during the period. American Century Companies Inc.’s holdings in Bank of Nova Scotia were worth $29,153,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Mondrian Investment Partners LTD purchased a new stake in Bank of Nova Scotia in the 3rd quarter valued at approximately $30,000. Cypress Capital Management LLC WY purchased a new position in shares of Bank of Nova Scotia during the 2nd quarter worth approximately $33,000. Smartleaf Asset Management LLC raised its stake in shares of Bank of Nova Scotia by 3,304.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 783 shares of the bank’s stock worth $51,000 after buying an additional 760 shares in the last quarter. VSM Wealth Advisory LLC acquired a new stake in shares of Bank of Nova Scotia in the 2nd quarter valued at approximately $55,000. Finally, Toth Financial Advisory Corp purchased a new stake in shares of Bank of Nova Scotia in the third quarter valued at approximately $67,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BNS has been the topic of a number of recent analyst reports. Royal Bank Of Canada upped their price target on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 25th. TD Securities reiterated a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Weiss Ratings raised shares of Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, February 25th. Finally, Raymond James Financial assumed coverage on shares of Bank of Nova Scotia in a report on Tuesday, November 25th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $106.00.

Bank of Nova Scotia Stock Down 1.1%

Bank of Nova Scotia stock opened at $72.14 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $88.93 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 0.87 and a beta of 1.10. Bank of Nova Scotia has a fifty-two week low of $44.09 and a fifty-two week high of $78.28. The stock’s fifty day moving average is $74.74 and its two-hundred day moving average is $69.18.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Tuesday, February 24th. The bank reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.06. The business had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $6.99 billion. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $1.76 earnings per share. Analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

About Bank of Nova Scotia

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.