Bridgewater Advisors Inc. Invests $214,000 in Bank of Nova Scotia (The) $BNS

Bridgewater Advisors Inc. bought a new stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,821 shares of the bank’s stock, valued at approximately $214,000.

A number of other hedge funds have also bought and sold shares of BNS. PDS Planning Inc boosted its holdings in Bank of Nova Scotia by 2.9% in the 2nd quarter. PDS Planning Inc now owns 7,097 shares of the bank’s stock valued at $392,000 after purchasing an additional 200 shares during the period. Cromwell Holdings LLC boosted its stake in shares of Bank of Nova Scotia by 7.8% in the second quarter. Cromwell Holdings LLC now owns 2,955 shares of the bank’s stock valued at $163,000 after buying an additional 213 shares during the period. Envestnet Asset Management Inc. grew its position in Bank of Nova Scotia by 4.0% during the second quarter. Envestnet Asset Management Inc. now owns 6,039 shares of the bank’s stock worth $334,000 after buying an additional 235 shares in the last quarter. CWM LLC grew its position in Bank of Nova Scotia by 15.8% during the second quarter. CWM LLC now owns 2,084 shares of the bank’s stock worth $115,000 after buying an additional 285 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its position in shares of Bank of Nova Scotia by 0.5% in the first quarter. Avantax Advisory Services Inc. now owns 58,073 shares of the bank’s stock worth $2,754,000 after purchasing an additional 298 shares during the period. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Price Performance

BNS stock opened at $65.74 on Wednesday. Bank of Nova Scotia has a 1 year low of $44.09 and a 1 year high of $66.10. The stock has a market capitalization of $81.39 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 1.49 and a beta of 1.16. The company’s 50-day moving average is $64.21 and its 200-day moving average is $57.49. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.03 and a quick ratio of 1.03.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Tuesday, August 26th. The bank reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.09. Bank of Nova Scotia had a return on equity of 11.61% and a net margin of 9.74%.The business had revenue of $6.85 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same period in the prior year, the business earned $1.63 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities research analysts expect that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BNS shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Bank of Nova Scotia in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Royal Bank Of Canada raised their price target on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 27th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $86.00.

Bank of Nova Scotia Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.