Bank of Nova Scotia (The) $BNS Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,717,878 shares of the bank’s stock after purchasing an additional 183,789 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Bank of Nova Scotia were worth $369,664,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BNS. Bank of New York Mellon Corp lifted its stake in shares of Bank of Nova Scotia by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,200,107 shares of the bank’s stock worth $66,330,000 after acquiring an additional 44,316 shares during the period. AGF Management Ltd. acquired a new stake in Bank of Nova Scotia in the second quarter valued at about $21,803,000. Scheer Rowlett & Associates Investment Management Ltd. boosted its holdings in Bank of Nova Scotia by 2.9% in the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,188,376 shares of the bank’s stock valued at $65,755,000 after purchasing an additional 33,800 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in Bank of Nova Scotia by 1,073.1% in the 2nd 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. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Bank of Nova Scotia by 315.0% during the 2nd 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 during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BNS. TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a report on Tuesday. Raymond James Financial started coverage on Bank of Nova Scotia in a research report on Tuesday, November 25th. They issued an “outperform” rating for the company. Royal Bank Of Canada raised their target price on Bank of Nova Scotia from $97.00 to $106.00 and gave the company a “sector perform” rating in a report on Wednesday, February 25th. Finally, Weiss Ratings raised shares of Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, February 25th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $106.00.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $72.95 on Friday. The stock has a fifty day moving average price of $74.78 and a 200 day moving average price of $68.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $89.93 billion, a PE ratio of 15.17, a P/E/G ratio of 0.90 and a beta of 1.10. Bank of Nova Scotia has a 1 year low of $44.09 and a 1 year high of $78.28.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Tuesday, February 24th. The bank reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.06. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The business had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $6.99 billion. During the same quarter last year, the business posted $1.76 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Sell-side analysts forecast that Bank of Nova Scotia will post 4.91 earnings per share 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.