Crossmark Global Holdings Inc. Reduces Stock Position in Bank of Nova Scotia (The) $BNS

Crossmark Global Holdings Inc. lowered its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 7.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 138,826 shares of the bank’s stock after selling 10,471 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Bank of Nova Scotia were worth $10,230,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in Bank of Nova Scotia by 9.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,373 shares of the bank’s stock worth $153,000 after purchasing an additional 208 shares in the last quarter. Fiera Capital Corp raised its holdings in Bank of Nova Scotia by 0.5% in the 3rd quarter. Fiera Capital Corp now owns 45,482 shares of the bank’s stock worth $2,940,000 after purchasing an additional 213 shares in the last quarter. Parallel Advisors LLC raised its holdings in Bank of Nova Scotia by 8.5% in the 3rd quarter. Parallel Advisors LLC now owns 3,326 shares of the bank’s stock worth $215,000 after purchasing an additional 261 shares in the last quarter. Fifth Third Bancorp raised its holdings in Bank of Nova Scotia by 79.2% in the 4th quarter. Fifth Third Bancorp now owns 688 shares of the bank’s stock worth $51,000 after purchasing an additional 304 shares in the last quarter. Finally, Cardinal Capital Management raised its holdings in Bank of Nova Scotia by 0.5% in the 4th quarter. Cardinal Capital Management now owns 61,711 shares of the bank’s stock worth $4,547,000 after purchasing an additional 323 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. TD Securities restated a “hold” rating on shares of Bank of Nova Scotia in a report on Tuesday, March 3rd. Weiss Ratings upgraded shares of Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, February 25th. Canaccord Genuity Group lowered shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, Royal Bank Of Canada upped their price objective on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $106.00.

Bank of Nova Scotia Stock Down 0.8%

Shares of NYSE BNS opened at $77.49 on Friday. The firm has a fifty day simple moving average of $72.76 and a two-hundred day simple moving average of $71.93. The firm has a market capitalization of $95.23 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 0.94 and a beta of 1.13. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68. Bank of Nova Scotia has a 12 month low of $50.12 and a 12 month high of $79.00.

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, topping analysts’ consensus estimates of $1.42 by $0.06. The firm had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $6.99 billion. Bank of Nova Scotia had a net margin of 12.40% and a return on equity of 12.49%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.76 EPS. Equities analysts expect that Bank of Nova Scotia will post 6.05 earnings per share for the current 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.