Canerector Inc. Buys 26,697,000 Shares of Bank of Nova Scotia (The) $BNS

Canerector Inc. increased its stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 8,899.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 26,997,000 shares of the bank’s stock after acquiring an additional 26,697,000 shares during the period. Bank of Nova Scotia comprises 3.4% of Canerector Inc.’s holdings, making the stock its 8th largest position. Canerector Inc.’s holdings in Bank of Nova Scotia were worth $1,745,356,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BNS. Mondrian Investment Partners LTD bought a new stake in Bank of Nova Scotia in the third quarter valued at $30,000. Cypress Capital Management LLC WY bought a new stake in Bank of Nova Scotia in the 2nd quarter valued at about $33,000. Smartleaf Asset Management LLC boosted its stake in Bank of Nova Scotia by 3,304.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 783 shares of the bank’s stock valued at $51,000 after purchasing an additional 760 shares during the period. VSM Wealth Advisory LLC bought a new position in Bank of Nova Scotia in the 2nd quarter worth about $55,000. Finally, Toth Financial Advisory Corp acquired a new stake in shares of Bank of Nova Scotia in the third quarter valued at approximately $67,000. 49.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BNS shares. TD Securities reiterated a “hold” rating on shares of Bank of Nova Scotia in a research report on Tuesday. Raymond James Financial started coverage on Bank of Nova Scotia in a research note on Tuesday, November 25th. They set an “outperform” rating on the stock. 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. Finally, Royal Bank Of Canada raised their price target 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. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $106.00.

Bank of Nova Scotia Stock Down 2.7%

BNS opened at $73.49 on Wednesday. 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 company has a market capitalization of $90.60 billion, a PE ratio of 15.28, a P/E/G ratio of 0.91 and a beta of 1.10. The stock’s fifty day moving average is $74.80 and its 200-day moving average is $68.92. Bank of Nova Scotia has a one year low of $44.09 and a one year high of $78.28.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its earnings results on Tuesday, February 24th. The bank reported $1.48 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7.40 billion for the quarter, compared to analyst estimates of $6.99 billion. During the same period in the previous year, the company earned $1.76 earnings per share. Bank of Nova Scotia’s revenue was up 2.9% compared to the same quarter last year. On average, equities analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current fiscal 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.