The Bank of Nova Scotia (NYSE:BNS) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 3.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 63,849 shares of the bank’s stock after acquiring an additional 2,090 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Bank of Nova Scotia were worth $3,479,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BNS. Pathway Financial Advisers LLC lifted its holdings in Bank of Nova Scotia by 5,380.9% in the third quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank’s stock valued at $216,447,000 after acquiring an additional 3,899,760 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Bank of Nova Scotia during the second quarter worth $120,463,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Bank of Nova Scotia by 2,455.8% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,521,906 shares of the bank’s stock worth $69,627,000 after purchasing an additional 1,462,360 shares in the last quarter. Nicola Wealth Management LTD. lifted its stake in Bank of Nova Scotia by 53.3% during the second quarter. Nicola Wealth Management LTD. now owns 2,300,000 shares of the bank’s stock worth $105,156,000 after purchasing an additional 800,000 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Bank of Nova Scotia by 4.7% during the second quarter. Mackenzie Financial Corp now owns 15,091,880 shares of the bank’s stock worth $690,438,000 after purchasing an additional 683,946 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Monday, November 18th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th. Barclays upgraded Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. Finally, Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

Bank of Nova Scotia Stock Down 0.6 %

Shares of NYSE BNS opened at $56.22 on Wednesday. The stock has a market cap of $69.96 billion, a P/E ratio of 13.45, a PEG ratio of 1.52 and a beta of 1.05. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61. The Bank of Nova Scotia has a 12-month low of $41.80 and a 12-month high of $56.79. The business’s fifty day simple moving average is $53.57 and its 200-day simple moving average is $49.55.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Tuesday, August 27th. The bank reported $1.63 EPS for the quarter, beating the consensus estimate of $1.62 by $0.01. The firm had revenue of $8.36 billion for the quarter, compared to analyst estimates of $8.53 billion. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. Bank of Nova Scotia’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.30 earnings per share. As a group, equities analysts predict that The Bank of Nova Scotia will post 4.53 EPS for the current fiscal 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.