Bank of Nova Scotia (The) $BNS Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 30.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 7,690,883 shares of the bank’s stock after purchasing an additional 1,772,608 shares during the quarter. Bank of Nova Scotia accounts for 1.6% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 9th biggest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Bank of Nova Scotia were worth $497,197,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Public Sector Pension Investment Board increased its stake in Bank of Nova Scotia by 1,073.1% in the second quarter. Public Sector Pension Investment Board now owns 1,410,536 shares of the bank’s stock valued at $77,840,000 after purchasing an additional 1,290,300 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Bank of Nova Scotia by 315.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,873,828 shares of the bank’s stock worth $159,014,000 after purchasing an additional 2,181,312 shares in the last quarter. Addenda Capital Inc. boosted its position in shares of Bank of Nova Scotia by 13.1% during the third quarter. Addenda Capital Inc. now owns 1,094,330 shares of the bank’s stock worth $70,748,000 after purchasing an additional 126,409 shares in the last quarter. Amundi grew its holdings in shares of Bank of Nova Scotia by 11.7% in the 2nd quarter. Amundi now owns 4,728,837 shares of the bank’s stock valued at $285,228,000 after buying an additional 495,797 shares during the period. Finally, Citigroup Inc. grew its holdings in shares of Bank of Nova Scotia by 55.4% in the 3rd quarter. Citigroup Inc. now owns 1,517,072 shares of the bank’s stock valued at $98,118,000 after buying an additional 540,526 shares during the period. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Trading Down 0.3%

Shares of NYSE:BNS opened at $71.31 on Thursday. The firm has a market cap of $87.91 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 0.87 and a beta of 1.10. Bank of Nova Scotia has a 12 month low of $44.09 and a 12 month high of $78.28. The company’s fifty day simple moving average is $74.58 and its 200 day simple moving average is $69.48. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.68.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its earnings results on Tuesday, February 24th. The bank reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.06. The firm had revenue of $7.40 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.76 EPS. As a group, research analysts forecast that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on BNS. TD Securities reaffirmed a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Royal Bank Of Canada boosted their target price on 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. Raymond James Financial initiated coverage on Bank of Nova Scotia in a report on Tuesday, November 25th. They issued an “outperform” rating for the company. Canaccord Genuity Group lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Weiss Ratings upgraded Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, February 25th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.