CIBC Asset Management Inc Has $730.96 Million Holdings in Bank of Nova Scotia (The) $BNS

CIBC Asset Management Inc raised its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,857,887 shares of the bank’s stock after purchasing an additional 57,582 shares during the period. Bank of Nova Scotia accounts for approximately 1.8% of CIBC Asset Management Inc’s holdings, making the stock its 12th biggest holding. CIBC Asset Management Inc’s holdings in Bank of Nova Scotia were worth $730,958,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Prospera Financial Services Inc lifted its position in 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 valued at $341,000 after purchasing an additional 173 shares during the period. EverSource Wealth Advisors LLC lifted its position in Bank of Nova Scotia by 9.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,373 shares of the bank’s stock valued at $153,000 after purchasing an additional 208 shares during the period. Fiera Capital Corp lifted its position in Bank of Nova Scotia by 0.5% during the 3rd quarter. Fiera Capital Corp now owns 45,482 shares of the bank’s stock valued at $2,940,000 after purchasing an additional 213 shares during the period. Larson Financial Group LLC lifted its stake in shares of Bank of Nova Scotia by 22.3% in the 4th quarter. Larson Financial Group LLC now owns 1,280 shares of the bank’s stock valued at $94,000 after purchasing an additional 233 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Bank of Nova Scotia by 8.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,193 shares of the bank’s stock valued at $235,000 after purchasing an additional 239 shares during the period. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Performance

Shares of Bank of Nova Scotia stock opened at $80.66 on Wednesday. The company has a market capitalization of $98.95 billion, a PE ratio of 15.39, a PEG ratio of 0.97 and a beta of 1.12. Bank of Nova Scotia has a 12 month low of $53.18 and a 12 month high of $82.22. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. The stock’s fifty day simple moving average is $74.89 and its 200 day simple moving average is $73.50.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, topping the consensus estimate of $1.42 by $0.05. The business had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $7.13 billion. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.52 EPS. On average, research analysts predict that Bank of Nova Scotia will post 6.05 EPS for the current year.

Analyst Upgrades and Downgrades

BNS has been the topic of a number of analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of Nova Scotia in a research note on Friday, May 22nd. Royal Bank Of Canada increased their price target on Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research note on Thursday, May 28th. Canaccord Genuity Group downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Finally, TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Hold” and a consensus target price of $117.00.

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.