JPMorgan Chase & Co. Has $440.93 Million Stake in Bank of Nova Scotia (The) $BNS

JPMorgan Chase & Co. decreased its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 9.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,983,525 shares of the bank’s stock after selling 612,088 shares during the period. JPMorgan Chase & Co. owned approximately 0.48% of Bank of Nova Scotia worth $440,926,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BNS. Citigroup Inc. raised its holdings in shares of Bank of Nova Scotia by 55.4% during the third quarter. Citigroup Inc. now owns 1,517,072 shares of the bank’s stock valued at $98,118,000 after purchasing an additional 540,526 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Bank of Nova Scotia by 30.0% in the 3rd 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 in the last quarter. First National Trust Co raised its stake in Bank of Nova Scotia by 54.5% during the 3rd quarter. First National Trust Co now owns 44,415 shares of the bank’s stock worth $2,871,000 after buying an additional 15,676 shares during the period. Canerector Inc. raised its stake in Bank of Nova Scotia by 8,899.0% during the 3rd 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 period. Finally, Mn Services Vermogensbeheer B.V. raised its stake in Bank of Nova Scotia by 17.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 285,843 shares of the bank’s stock worth $21,109,000 after buying an additional 41,443 shares during the period. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Down 0.1%

BNS opened at $81.65 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04. Bank of Nova Scotia has a fifty-two week low of $53.72 and a fifty-two week high of $82.22. The firm has a market capitalization of $100.02 billion, a PE ratio of 15.58, a P/E/G ratio of 1.00 and a beta of 1.12. The company’s 50-day moving average is $76.63 and its 200 day moving average is $74.18.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BNS. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of Nova Scotia in a research note on Friday, May 22nd. Royal Bank Of Canada upped their price target on Bank of Nova Scotia from $98.00 to $117.00 and gave the stock 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 reaffirmed a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $117.00.

Bank of Nova Scotia 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.