Bank of Nova Scotia (NYSE:BNS) Stock Rating Lowered by Cibc World Mkts

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) was downgraded by stock analysts at Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

BNS has been the subject of a number of other reports. UBS Group upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Monday, November 18th. CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday. TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Royal Bank of Canada boosted their target price on shares of Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $72.00.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $50.84 on Tuesday. Bank of Nova Scotia has a 12 month low of $43.67 and a 12 month high of $57.07. The company’s fifty day simple moving average is $52.22 and its 200-day simple moving average is $52.20. The firm has a market cap of $63.32 billion, a PE ratio of 11.77, a P/E/G ratio of 1.16 and a beta of 1.07. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59.

Institutional Investors Weigh In On Bank of Nova Scotia

A number of large investors have recently added to or reduced their stakes in BNS. Creative Planning increased its holdings in shares of Bank of Nova Scotia by 2.3% in the third quarter. Creative Planning now owns 36,568 shares of the bank’s stock valued at $1,993,000 after purchasing an additional 807 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Bank of Nova Scotia by 171.6% during the 3rd quarter. Blue Trust Inc. now owns 1,578 shares of the bank’s stock worth $86,000 after buying an additional 997 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Bank of Nova Scotia during the 3rd quarter worth about $221,000. Signaturefd LLC grew its stake in Bank of Nova Scotia by 1.2% in the 3rd quarter. Signaturefd LLC now owns 18,470 shares of the bank’s stock valued at $1,006,000 after buying an additional 216 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Bank of Nova Scotia by 138.9% in the 3rd quarter. International Assets Investment Management LLC now owns 123,358 shares of the bank’s stock valued at $67,220,000 after acquiring an additional 71,712 shares during the period. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Company Profile

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.