The Bank of Nova Scotia (NYSE:BNS) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 40.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 747,863 shares of the bank’s stock after acquiring an additional 216,371 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Bank of Nova Scotia worth $40,793,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Mackenzie Financial Corp increased its stake in Bank of Nova Scotia by 4.7% during the 2nd quarter. Mackenzie Financial Corp now owns 15,091,880 shares of the bank’s stock worth $690,438,000 after buying an additional 683,946 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Bank of Nova Scotia by 24.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank’s stock valued at $640,624,000 after buying an additional 2,346,995 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Bank of Nova Scotia by 2.4% in the 3rd quarter. CIBC Asset Management Inc now owns 10,074,518 shares of the bank’s stock valued at $550,729,000 after buying an additional 240,803 shares during the last quarter. Legal & General Group Plc grew its position in shares of Bank of Nova Scotia by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 9,281,724 shares of the bank’s stock valued at $424,497,000 after buying an additional 57,796 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Bank of Nova Scotia by 17.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank’s stock valued at $241,981,000 after buying an additional 660,097 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BNS. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th. 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. 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 shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.00.

Bank of Nova Scotia Stock Performance

Shares of NYSE BNS opened at $56.72 on Friday. The company has a market cap of $70.58 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 1.52 and a beta of 1.05. The Bank of Nova Scotia has a 12 month low of $41.80 and a 12 month high of $56.81. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 1.02. The company has a 50-day simple moving average of $53.72 and a 200-day simple moving average of $49.65.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.01. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The business had revenue of $8.36 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same period in the previous year, the firm posted $1.30 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that The Bank of Nova Scotia will post 4.52 earnings per share for the current year.

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.