TD Asset Management Inc Sells 54,612 Shares of Bank of Nova Scotia (The) $BNS

TD Asset Management Inc reduced its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,134,031 shares of the bank’s stock after selling 54,612 shares during the quarter. Bank of Nova Scotia accounts for 0.9% of TD Asset Management Inc’s portfolio, making the stock its 25th biggest holding. TD Asset Management Inc’s holdings in Bank of Nova Scotia were worth $1,000,727,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. MAI Capital Management lifted its stake in shares of Bank of Nova Scotia by 40.7% in the 1st quarter. MAI Capital Management now owns 1,211 shares of the bank’s stock worth $57,000 after purchasing an additional 350 shares during the period. SVB Wealth LLC bought a new position in Bank of Nova Scotia in the first quarter worth approximately $69,000. North Capital Inc. purchased a new position in shares of Bank of Nova Scotia during the 1st quarter worth $81,000. CWM LLC grew its position in shares of Bank of Nova Scotia by 15.8% during the 2nd quarter. CWM LLC now owns 2,084 shares of the bank’s stock valued at $115,000 after acquiring an additional 285 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Bank of Nova Scotia by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,343 shares of the bank’s stock worth $159,000 after purchasing an additional 336 shares in the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Price Performance

NYSE:BNS opened at $63.92 on Tuesday. The firm has a market capitalization of $79.30 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.45 and a beta of 1.16. Bank of Nova Scotia has a 1 year low of $44.09 and a 1 year high of $65.52. The business has a 50 day simple moving average of $61.63 and a 200-day simple moving average of $55.36. 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 released its quarterly earnings results on Tuesday, August 26th. The bank reported $1.37 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $6.85 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. Bank of Nova Scotia’s quarterly revenue was up 13.4% compared to the same quarter last year. Equities analysts forecast that Bank of Nova Scotia will post 4.91 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Bank of Nova Scotia in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Royal Bank Of Canada lifted their price target on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the company a “sector perform” rating in a report on Wednesday, August 27th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

About Bank of Nova Scotia

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.