Bank of Nova Scotia (The) $BNS Stake Reduced by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co reduced its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 269,856 shares of the bank’s stock after selling 10,200 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Bank of Nova Scotia were worth $19,929,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Bank of Nova Scotia by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 57,237,537 shares of the bank’s stock worth $4,221,440,000 after buying an additional 1,169,073 shares during the last quarter. Canerector Inc. grew its stake in shares of Bank of Nova Scotia by 8,899.0% in the third quarter. Canerector Inc. now owns 26,997,000 shares of the bank’s stock worth $1,745,356,000 after purchasing an additional 26,697,000 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Bank of Nova Scotia by 1.3% in the third quarter. TD Asset Management Inc now owns 18,364,021 shares of the bank’s stock worth $1,187,709,000 after purchasing an additional 229,990 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Bank of Nova Scotia by 44.3% in the third quarter. CIBC Asset Management Inc now owns 9,800,305 shares of the bank’s stock worth $635,730,000 after purchasing an additional 3,007,407 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Bank of Nova Scotia by 5.4% in the third quarter. Legal & General Group Plc now owns 8,046,647 shares of the bank’s stock worth $520,426,000 after purchasing an additional 410,786 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Trading Up 0.1%

Shares of Bank of Nova Scotia stock opened at $78.04 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.68. The firm has a market cap of $95.92 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 0.94 and a beta of 1.13. The business has a fifty day simple moving average of $72.67 and a 200-day simple moving average of $71.65. Bank of Nova Scotia has a fifty-two week low of $49.85 and a fifty-two week high of $78.55.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, February 24th. The bank reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.06. The business had revenue of $7.40 billion during the quarter, compared to analyst estimates of $6.99 billion. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.76 earnings per share. On average, equities analysts forecast that Bank of Nova Scotia will post 6.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BNS has been the subject of several recent analyst reports. Royal Bank Of Canada increased their price target on Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 25th. Weiss Ratings raised Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” 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 note on Tuesday, March 3rd. Finally, Canaccord Genuity Group cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of Nova Scotia has an average rating of “Hold” and an average price target of $106.00.

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.