Legal & General Group Plc Has $626.48 Million Stock Position in Bank of Nova Scotia (The) $BNS

Legal & General Group Plc boosted its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 5.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 8,483,129 shares of the bank’s stock after buying an additional 436,482 shares during the period. Legal & General Group Plc’s holdings in Bank of Nova Scotia were worth $626,478,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BNS. Genus Capital Management Inc. grew its stake in shares of Bank of Nova Scotia by 4.6% during the 4th quarter. Genus Capital Management Inc. now owns 42,020 shares of the bank’s stock worth $3,103,000 after acquiring an additional 1,846 shares in the last quarter. Todd Asset Management LLC grew its stake in shares of Bank of Nova Scotia by 2.2% during the 4th quarter. Todd Asset Management LLC now owns 19,250 shares of the bank’s stock worth $1,419,000 after acquiring an additional 416 shares in the last quarter. Prospera Financial Services Inc grew its stake in shares of Bank of Nova Scotia by 3.9% during the 4th quarter. Prospera Financial Services Inc now owns 4,625 shares of the bank’s stock worth $341,000 after acquiring an additional 173 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Bank of Nova Scotia by 15.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,748 shares of the bank’s stock worth $202,000 after acquiring an additional 375 shares in the last quarter. Finally, Cumberland Partners Ltd grew its stake in shares of Bank of Nova Scotia by 89.3% during the 4th quarter. Cumberland Partners Ltd now owns 552,819 shares of the bank’s stock worth $40,796,000 after acquiring an additional 260,759 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Price Performance

NYSE:BNS opened at $79.79 on Tuesday. Bank of Nova Scotia has a 1-year low of $51.00 and a 1-year high of $80.02. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68. The firm has a fifty day simple moving average of $73.85 and a 200 day simple moving average of $73.02. The stock has a market capitalization of $98.06 billion, a PE ratio of 16.59, a P/E/G ratio of 1.01 and a beta of 1.13.

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 for the quarter, beating the consensus estimate of $1.42 by $0.06. Bank of Nova Scotia had a net margin of 12.40% and a return on equity of 12.49%. The business had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $6.99 billion. During the same period last year, the business earned $1.76 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. On average, research analysts expect that Bank of Nova Scotia will post 6.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BNS shares. Canaccord Genuity Group cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Royal Bank Of Canada raised their price target on shares of 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. TD Securities reaffirmed a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. 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 equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of Nova Scotia has a consensus rating of “Hold” and an average price target of $106.00.

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.