Bank of Nova Scotia (The) $BNS Stock Position Raised by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC lifted its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 222,393 shares of the bank’s stock after acquiring an additional 465 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Bank of Nova Scotia were worth $12,275,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. MAI Capital Management boosted its stake in shares of Bank of Nova Scotia by 40.7% during the 1st quarter. MAI Capital Management now owns 1,211 shares of the bank’s stock worth $57,000 after acquiring an additional 350 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of Bank of Nova Scotia during the 1st quarter worth $69,000. North Capital Inc. bought a new stake in shares of Bank of Nova Scotia during the 1st quarter worth $81,000. CWM LLC boosted its stake in shares of Bank of Nova Scotia by 15.8% during the 2nd quarter. CWM LLC now owns 2,084 shares of the bank’s stock worth $115,000 after acquiring an additional 285 shares in the last quarter. Finally, Cromwell Holdings LLC boosted its stake in shares of Bank of Nova Scotia by 7.8% during the 2nd quarter. Cromwell Holdings LLC now owns 2,955 shares of the bank’s stock worth $163,000 after acquiring an additional 213 shares in the last quarter. 49.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BNS has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Bank of Nova Scotia in a research report on Wednesday, October 8th. Wall Street Zen raised 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 raised their target price on Bank of Nova Scotia from $80.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 27th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Bank of Nova Scotia presently has an average rating of “Moderate Buy” and an average price target of $86.00.

Bank of Nova Scotia Price Performance

BNS opened at $64.51 on Friday. The stock has a market cap of $80.03 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 1.47 and a beta of 1.16. Bank of Nova Scotia has a 1 year low of $44.09 and a 1 year high of $65.52. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average price of $62.93 and a 200 day moving average price of $56.20.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, August 26th. The bank reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.09. The firm had revenue of $6.85 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Bank of Nova Scotia had a return on equity of 11.61% and a net margin of 9.74%.The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.63 earnings per share. 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.