Ninepoint Partners LP bought a new position in shares of The Bank of Nova Scotia (NYSE:BNS – Free Report) (TSE:BNS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 55,356 shares of the bank’s stock, valued at approximately $2,974,000. Bank of Nova Scotia accounts for approximately 0.4% of Ninepoint Partners LP’s holdings, making the stock its 21st largest holding.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted 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 worth $241,981,000 after purchasing an additional 660,097 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Bank of Nova Scotia by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,744,062 shares of the bank’s stock valued at $204,214,000 after acquiring an additional 150,247 shares during the period. Citigroup Inc. lifted its position in shares of Bank of Nova Scotia by 12.3% during the 3rd quarter. Citigroup Inc. now owns 580,664 shares of the bank’s stock valued at $31,673,000 after acquiring an additional 63,528 shares during the period. Geode Capital Management LLC increased its stake in Bank of Nova Scotia by 10.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank’s stock valued at $310,817,000 after purchasing an additional 524,496 shares in the last quarter. Finally, Galibier Capital Management Ltd. increased its stake in Bank of Nova Scotia by 38,283.3% during the 4th quarter. Galibier Capital Management Ltd. now owns 476,721 shares of the bank’s stock valued at $25,586,000 after purchasing an additional 475,479 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.
Bank of Nova Scotia Price Performance
Shares of NYSE:BNS opened at $47.98 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $59.77 billion, a PE ratio of 11.11, a P/E/G ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a twelve month low of $43.68 and a twelve month high of $57.07. The company has a 50-day moving average price of $50.53 and a two-hundred day moving average price of $52.46.
Bank of Nova Scotia Cuts Dividend
Analyst Ratings Changes
BNS has been the subject of several recent analyst reports. 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. Barclays upgraded shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Finally, Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $75.50.
Check Out Our Latest Report on Bank of Nova Scotia
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.
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