Charles Schwab Investment Management Inc. Acquires 170,723 Shares of Bank of Nova Scotia (The) $BNS

Charles Schwab Investment Management Inc. raised its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 4.4% in the second quarter, Holdings Channel.com reports. The fund owned 4,048,212 shares of the bank’s stock after acquiring an additional 170,723 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Bank of Nova Scotia were worth $223,424,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. raised its holdings in shares of Bank of Nova Scotia by 7.4% during the 2nd quarter. American Century Companies Inc. now owns 386,284 shares of the bank’s stock valued at $21,360,000 after purchasing an additional 26,664 shares in the last quarter. CenterBook Partners LP increased its position in Bank of Nova Scotia by 7.9% during the second quarter. CenterBook Partners LP now owns 46,858 shares of the bank’s stock worth $2,590,000 after buying an additional 3,429 shares during the last quarter. Mediolanum International Funds Ltd raised its holdings in Bank of Nova Scotia by 746.8% during the second quarter. Mediolanum International Funds Ltd now owns 154,686 shares of the bank’s stock valued at $8,512,000 after buying an additional 136,418 shares in the last quarter. MAI Capital Management lifted its position in shares of Bank of Nova Scotia by 27.4% in the second quarter. MAI Capital Management now owns 1,543 shares of the bank’s stock worth $85,000 after buying an additional 332 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its position in shares of Bank of Nova Scotia by 0.3% in the second quarter. Hillsdale Investment Management Inc. now owns 1,096,397 shares of the bank’s stock worth $60,672,000 after buying an additional 3,661 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Analyst Upgrades and Downgrades

BNS has been the topic of a number of analyst reports. Royal Bank Of Canada increased their price objective 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 raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Bank of Nova Scotia in a research report on Wednesday, October 8th. Finally, Raymond James Financial began coverage on shares of Bank of Nova Scotia in a research note on Tuesday. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Hold” and a consensus target price of $86.00.

Bank of Nova Scotia Stock Up 1.9%

Shares of BNS opened at $67.84 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50-day simple moving average of $65.30 and a 200-day simple moving average of $59.34. Bank of Nova Scotia has a 52 week low of $44.09 and a 52 week high of $68.10. The firm has a market capitalization of $83.87 billion, a P/E ratio of 18.24, a P/E/G ratio of 1.49 and a beta of 1.17.

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 for the quarter, topping analysts’ consensus estimates of $1.28 by $0.09. The business had revenue of $6.85 billion for the quarter, compared to the consensus estimate of $9.29 billion. Bank of Nova Scotia had a return on equity of 11.61% and a net margin of 9.74%.The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the business earned $1.63 earnings per share. On average, equities research analysts expect that Bank of Nova Scotia will post 4.91 earnings per share 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.