Geode Capital Management LLC Raises Holdings in Bank of Nova Scotia (The) $BNS

Geode Capital Management LLC lifted its stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 7.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,259,989 shares of the bank’s stock after buying an additional 799,474 shares during the quarter. Geode Capital Management LLC owned approximately 0.99% of Bank of Nova Scotia worth $923,232,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Nicola Wealth Management LTD. boosted its stake in shares of Bank of Nova Scotia by 163.2% in the fourth quarter. Nicola Wealth Management LTD. now owns 1,361,500 shares of the bank’s stock worth $100,430,000 after buying an additional 844,200 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Bank of Nova Scotia by 5.4% in the 4th quarter. Legal & General Group Plc now owns 8,483,129 shares of the bank’s stock valued at $626,478,000 after purchasing an additional 436,482 shares during the period. Genus Capital Management Inc. lifted its stake in shares of Bank of Nova Scotia by 4.6% in the 4th quarter. Genus Capital Management Inc. now owns 42,020 shares of the bank’s stock valued at $3,103,000 after purchasing an additional 1,846 shares during the period. Todd Asset Management LLC lifted its stake in shares of Bank of Nova Scotia by 2.2% in the 4th quarter. Todd Asset Management LLC now owns 19,250 shares of the bank’s stock valued at $1,419,000 after purchasing an additional 416 shares during the period. Finally, Prospera Financial Services Inc lifted its stake in shares of Bank of Nova Scotia by 3.9% in the 4th quarter. Prospera Financial Services Inc now owns 4,625 shares of the bank’s stock valued at $341,000 after purchasing an additional 173 shares during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research note on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Bank of Nova Scotia in a research note on Friday, May 22nd. Canaccord Genuity Group lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Finally, TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Hold” and a consensus price target of $117.00.

Bank of Nova Scotia Stock Up 0.4%

NYSE BNS opened at $80.07 on Friday. The business has a fifty day moving average price of $74.69 and a 200 day moving average price of $73.37. Bank of Nova Scotia has a one year low of $52.44 and a one year high of $82.22. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.05 and a current ratio of 1.04. The company has a market cap of $98.41 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.01 and a beta of 1.13.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, beating the consensus estimate of $1.42 by $0.05. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The firm had revenue of $7.24 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same period in the prior year, the company earned $1.52 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. Research analysts anticipate that Bank of Nova Scotia will post 6.03 EPS for the current fiscal year.

Bank of Nova Scotia 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.