18,554,149 Shares in Bank of Nova Scotia (The) $BNS Bought by Norges Bank

Norges Bank acquired a new position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 18,554,149 shares of the bank’s stock, valued at approximately $1,368,456,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BNS. AQR Capital Management LLC grew its position in Bank of Nova Scotia by 111.2% during the 1st quarter. AQR Capital Management LLC now owns 19,096 shares of the bank’s stock worth $911,000 after acquiring an additional 10,056 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Bank of Nova Scotia during the 2nd quarter worth $330,000. EverSource Wealth Advisors LLC grew its position in Bank of Nova Scotia by 42.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,165 shares of the bank’s stock worth $120,000 after acquiring an additional 649 shares during the last quarter. Sei Investments Co. grew its position in Bank of Nova Scotia by 2.1% during the 2nd quarter. Sei Investments Co. now owns 21,212 shares of the bank’s stock worth $1,172,000 after acquiring an additional 434 shares during the last quarter. Finally, Quantinno Capital Management LP grew its position in Bank of Nova Scotia by 61.1% during the 2nd quarter. Quantinno Capital Management LP now owns 66,962 shares of the bank’s stock worth $3,701,000 after acquiring an additional 25,400 shares during the last quarter. Institutional investors own 49.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. TD Securities reaffirmed a “hold” rating on shares of Bank of Nova Scotia in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of Nova Scotia in a report on Friday, May 22nd. Canaccord Genuity Group downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, Royal Bank Of Canada lifted their target price on Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a report on Thursday. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Hold” and an average target price of $117.00.

Bank of Nova Scotia Stock Up 0.4%

Shares of NYSE:BNS opened at $80.07 on Friday. The company has a market capitalization of $98.23 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 1.02 and a beta of 1.13. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.05. The business’s 50-day moving average is $74.69 and its 200-day moving average is $73.37. Bank of Nova Scotia has a 1 year low of $52.44 and a 1 year high of $82.22.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same period in the previous year, the business earned $1.52 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts predict that Bank of Nova Scotia will post 6.05 earnings per share for the current year.

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.