Keystone Financial Planning Inc. Has $7.74 Million Stake in Bank of Nova Scotia (The) $BNS

Keystone Financial Planning Inc. increased its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 139,946 shares of the bank’s stock after purchasing an additional 1,039 shares during the period. Bank of Nova Scotia makes up 2.3% of Keystone Financial Planning Inc.’s investment portfolio, making the stock its 9th largest holding. Keystone Financial Planning Inc.’s holdings in Bank of Nova Scotia were worth $7,735,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale raised its stake in Bank of Nova Scotia by 0.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 272,850 shares of the bank’s stock valued at $15,174,000 after buying an additional 1,361 shares during the last quarter. Alan B Lancz & Associates Inc. bought a new stake in shares of Bank of Nova Scotia in the second quarter worth $216,000. Lorne Steinberg Wealth Management Inc. grew its holdings in shares of Bank of Nova Scotia by 6.3% in the second quarter. Lorne Steinberg Wealth Management Inc. now owns 168,991 shares of the bank’s stock worth $9,351,000 after acquiring an additional 10,045 shares during the period. Cidel Asset Management Inc. increased its position in Bank of Nova Scotia by 1.5% during the second quarter. Cidel Asset Management Inc. now owns 176,053 shares of the bank’s stock valued at $9,715,000 after acquiring an additional 2,663 shares during the last quarter. Finally, Callahan Advisors LLC lifted its holdings in Bank of Nova Scotia by 20.2% in the second quarter. Callahan Advisors LLC now owns 5,890 shares of the bank’s stock valued at $326,000 after acquiring an additional 990 shares during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BNS. Weiss Ratings restated a “buy (b-)” rating on shares of Bank of Nova Scotia in a research note on Friday. Wall Street Zen raised shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Royal Bank Of Canada boosted their target price on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

Bank of Nova Scotia Stock Performance

BNS opened at $64.79 on Friday. The company has a 50 day simple moving average of $63.09 and a two-hundred day simple moving average of $56.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $80.38 billion, a P/E ratio of 17.42, 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.

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, beating analysts’ consensus estimates of $1.28 by $0.09. The company had revenue of $6.85 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Bank of Nova Scotia had a net margin of 9.74% and a return on equity of 11.61%. Bank of Nova Scotia’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.63 EPS. Equities analysts forecast that Bank of Nova Scotia will post 4.91 earnings per share 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.