Northwestern Mutual Wealth Management Co. Acquires 530,671 Shares of Bank of Nova Scotia (The) $BNS

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 17,964.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 533,625 shares of the bank’s stock after buying an additional 530,671 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Bank of Nova Scotia were worth $39,323,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BNS. Canerector Inc. boosted its stake in Bank of Nova Scotia by 8,899.0% during the third quarter. Canerector Inc. now owns 26,997,000 shares of the bank’s stock valued at $1,745,356,000 after buying an additional 26,697,000 shares during the period. CIBC Asset Management Inc boosted its stake in Bank of Nova Scotia by 44.3% during the third quarter. CIBC Asset Management Inc now owns 9,800,305 shares of the bank’s stock valued at $635,730,000 after buying an additional 3,007,407 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in Bank of Nova Scotia during the third quarter valued at $138,394,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Bank of Nova Scotia by 30.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,690,883 shares of the bank’s stock valued at $497,197,000 after buying an additional 1,772,608 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Bank of Nova Scotia by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 57,237,537 shares of the bank’s stock valued at $4,221,440,000 after buying an additional 1,169,073 shares during the period. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Up 0.2%

Shares of BNS stock opened at $77.22 on Tuesday. 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 business has a 50-day moving average price of $73.06 and a two-hundred day moving average price of $72.55. Bank of Nova Scotia has a 12-month low of $51.00 and a 12-month high of $79.00. The firm has a market cap of $94.90 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 0.93 and a beta of 1.13.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, February 24th. The bank reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $6.99 billion. During the same quarter in the previous year, the company posted $1.76 earnings per share. The company’s revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Bank of Nova Scotia will post 6.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BNS has been the subject of several research analyst reports. TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Royal Bank Of Canada lifted their price objective 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. 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, Canaccord Genuity Group lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Hold” and a consensus target price 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.