8,169,732 Shares in Bank of Nova Scotia (The) $BNS Bought by Legal & General Group Plc

Legal & General Group Plc bought a new stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 8,169,732 shares of the bank’s stock, valued at approximately $709,837,000.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on BNS shares. Royal Bank Of Canada boosted their target price on Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 28th. Keefe, Bruyette & Woods initiated coverage on Bank of Nova Scotia in a research note on Friday. They issued an “outperform” rating on the stock. Finally, Weiss Ratings cut Bank of Nova Scotia from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, August 18th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Moderate Buy” and an average target price of $117.00.

Bank of Nova Scotia Stock Performance

Bank of Nova Scotia stock opened at $86.82 on Tuesday. The company’s 50-day moving average price is $87.62 and its 200-day moving average price is $79.69. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The company has a market cap of $105.82 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 1.08 and a beta of 1.11. Bank of Nova Scotia has a twelve month low of $57.23 and a twelve month high of $92.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, topping 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 company had revenue of $7.24 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same quarter last year, the business posted $1.52 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. On average, equities research analysts forecast that Bank of Nova Scotia will post 6.03 EPS for the current fiscal year.

About Bank of Nova Scotia

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.