Grantham Mayo Van Otterloo & Co. LLC Sells 48,810 Shares of Bank of Nova Scotia (The) $BNS

Grantham Mayo Van Otterloo & Co. LLC decreased its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 6.1% in the 3rd quarter, Holdings Channel reports. The fund owned 752,514 shares of the bank’s stock after selling 48,810 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Bank of Nova Scotia were worth $48,661,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Motco boosted its position in Bank of Nova Scotia by 1.2% during the third quarter. Motco now owns 14,832 shares of the bank’s stock valued at $959,000 after purchasing an additional 181 shares during the last quarter. Pacifica Partners Inc. increased its position in shares of Bank of Nova Scotia by 1.0% during the 3rd quarter. Pacifica Partners Inc. now owns 18,998 shares of the bank’s stock worth $1,227,000 after purchasing an additional 190 shares during the last quarter. Addison Advisors LLC raised its stake in shares of Bank of Nova Scotia by 6.5% during the 2nd quarter. Addison Advisors LLC now owns 3,275 shares of the bank’s stock worth $181,000 after purchasing an additional 199 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Bank of Nova Scotia by 9.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,373 shares of the bank’s stock worth $153,000 after purchasing an additional 208 shares in the last quarter. Finally, Fiera Capital Corp boosted its holdings in shares of Bank of Nova Scotia by 0.5% in the 3rd quarter. Fiera Capital Corp now owns 45,482 shares of the bank’s stock valued at $2,940,000 after buying an additional 213 shares during the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Trading Down 1.1%

Shares of Bank of Nova Scotia stock opened at $72.14 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.05 and a quick ratio of 1.05. The business has a fifty day simple moving average of $74.74 and a two-hundred day simple moving average of $69.18. Bank of Nova Scotia has a 1 year low of $44.09 and a 1 year high of $78.28. The company has a market capitalization of $88.93 billion, a price-to-earnings ratio of 15.00, a P/E/G ratio of 0.87 and a beta of 1.10.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, February 24th. The bank reported $1.48 EPS for the quarter, beating the consensus estimate of $1.42 by $0.06. The firm had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $6.99 billion. Bank of Nova Scotia had a net margin of 12.40% and a return on equity of 12.49%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.76 earnings per share. Research analysts forecast that Bank of Nova Scotia will post 4.91 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BNS shares. Royal Bank Of Canada raised their target price on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 25th. TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a research report on Tuesday, March 3rd. Weiss Ratings upgraded shares of Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, February 25th. Finally, Raymond James Financial began coverage on shares of Bank of Nova Scotia in a research note on Tuesday, November 25th. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $106.00.

Bank of Nova Scotia Company Profile

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.