Bank of Nova Scotia (The) $BNS is Gold Investment Management Ltd.’s 4th Largest Position

Gold Investment Management Ltd. reduced its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 5.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 137,025 shares of the bank’s stock after selling 8,586 shares during the period. Bank of Nova Scotia makes up approximately 3.2% of Gold Investment Management Ltd.’s holdings, making the stock its 4th largest holding. Gold Investment Management Ltd.’s holdings in Bank of Nova Scotia were worth $10,106,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of BNS. Canerector Inc. increased its position in Bank of Nova Scotia by 8,899.0% in the third quarter. Canerector Inc. now owns 26,997,000 shares of the bank’s stock worth $1,745,356,000 after buying an additional 26,697,000 shares during the last quarter. CIBC Asset Management Inc increased its position in Bank of Nova Scotia by 44.3% in the third quarter. CIBC Asset Management Inc now owns 9,800,305 shares of the bank’s stock worth $635,730,000 after buying an additional 3,007,407 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in Bank of Nova Scotia in the third quarter worth $138,394,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Bank of Nova Scotia by 30.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,690,883 shares of the bank’s stock worth $497,197,000 after buying an additional 1,772,608 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Bank of Nova Scotia by 1.9% in the third quarter. Vanguard Group Inc. now owns 56,068,464 shares of the bank’s stock worth $3,625,499,000 after buying an additional 1,063,127 shares during the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BNS. TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a research report on Tuesday, March 3rd. Weiss Ratings raised Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, February 25th. Royal Bank Of Canada raised their target price on Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 25th. Finally, Canaccord Genuity Group cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $106.00.

Bank of Nova Scotia Price Performance

Shares of NYSE BNS opened at $75.00 on Friday. The stock has a market cap of $92.17 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 0.91 and a beta of 1.10. Bank of Nova Scotia has a fifty-two week low of $48.14 and a fifty-two week high of $78.28. 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 fifty day moving average of $72.62 and a 200-day moving average of $71.11.

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 the consensus estimate of $1.42 by $0.06. The company had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $6.99 billion. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.76 earnings per share. Equities research analysts anticipate that Bank of Nova Scotia will post 6.04 earnings per share for the current year.

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.