Nwam LLC Takes $261,000 Position in The Bank of Nova Scotia (NYSE:BNS)

Nwam LLC purchased a new position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) during the 3rd quarter, HoldingsChannel reports. The firm purchased 4,785 shares of the bank’s stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BNS. Mather Group LLC. increased its position in Bank of Nova Scotia by 1,388.9% in the second quarter. Mather Group LLC. now owns 536 shares of the bank’s stock worth $25,000 after buying an additional 500 shares during the period. Blue Trust Inc. grew its position in shares of Bank of Nova Scotia by 3,127.8% during the second quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock worth $27,000 after acquiring an additional 563 shares during the last quarter. City State Bank acquired a new stake in shares of Bank of Nova Scotia in the 3rd quarter worth about $57,000. EverSource Wealth Advisors LLC lifted its position in Bank of Nova Scotia by 102.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,605 shares of the bank’s stock valued at $83,000 after purchasing an additional 811 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Bank of Nova Scotia during the 2nd quarter valued at about $104,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BNS shares. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Barclays upgraded Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 21st. TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Cibc World Mkts upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Bank of Nova Scotia Trading Up 0.2 %

Shares of Bank of Nova Scotia stock opened at $56.55 on Tuesday. The business has a fifty day simple moving average of $53.49 and a 200-day simple moving average of $49.49. The Bank of Nova Scotia has a fifty-two week low of $41.80 and a fifty-two week high of $56.79. The firm has a market cap of $70.37 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 1.52 and a beta of 1.05. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.61.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.01. The company had revenue of $8.36 billion during the quarter, compared to the consensus estimate of $8.53 billion. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. Bank of Nova Scotia’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.30 EPS. On average, equities analysts forecast that The Bank of Nova Scotia will post 4.53 EPS for the current fiscal year.

Bank of Nova Scotia 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.