Bank of Nova Scotia (NYSE:BNS) Stock Rating Lowered by StockNews.com

Bank of Nova Scotia (NYSE:BNSGet Free Report) (TSE:BNS) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

A number of other equities research analysts have also recently commented on BNS. Barclays assumed coverage on shares of Bank of Nova Scotia in a report on Wednesday, March 20th. They set an “underweight” rating and a $70.00 price target on the stock. Jefferies Financial Group assumed coverage on Bank of Nova Scotia in a research report on Thursday, February 22nd. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $68.00.

Check Out Our Latest Stock Analysis on Bank of Nova Scotia

Bank of Nova Scotia Trading Up 1.2 %

NYSE BNS opened at $46.86 on Wednesday. Bank of Nova Scotia has a 12 month low of $39.79 and a 12 month high of $51.98. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.56. The stock’s fifty day moving average price is $48.20 and its 200-day moving average price is $47.31. The stock has a market cap of $57.62 billion, a P/E ratio of 10.37, a P/E/G ratio of 1.84 and a beta of 1.06.

Bank of Nova Scotia (NYSE:BNSGet Free Report) (TSE:BNS) last announced its quarterly earnings data on Tuesday, February 27th. The bank reported $1.25 EPS for the quarter, beating the consensus estimate of $1.19 by $0.06. The company had revenue of $14.13 billion for the quarter, compared to the consensus estimate of $6.01 billion. Bank of Nova Scotia had a net margin of 10.40% and a return on equity of 11.44%. During the same period in the prior year, the firm posted $1.37 EPS. As a group, equities analysts forecast that Bank of Nova Scotia will post 4.87 EPS for the current fiscal year.

Institutional Trading of Bank of Nova Scotia

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Bank of Nova Scotia by 1.9% in the first quarter. Vanguard Group Inc. now owns 47,862,189 shares of the bank’s stock worth $2,478,304,000 after purchasing an additional 891,157 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Bank of Nova Scotia by 3.4% in the 3rd quarter. Toronto Dominion Bank now owns 22,567,680 shares of the bank’s stock worth $1,028,861,000 after buying an additional 736,807 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Bank of Nova Scotia by 23.2% in the fourth quarter. TD Asset Management Inc now owns 19,841,901 shares of the bank’s stock worth $970,577,000 after acquiring an additional 3,731,541 shares during the period. 1832 Asset Management L.P. increased its position in Bank of Nova Scotia by 16.1% during the first quarter. 1832 Asset Management L.P. now owns 17,015,877 shares of the bank’s stock valued at $881,082,000 after acquiring an additional 2,361,136 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Bank of Nova Scotia by 17.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,563,337 shares of the bank’s stock valued at $753,658,000 after acquiring an additional 2,178,633 shares during the period. 49.13% of the stock is currently owned by institutional investors.

About Bank of Nova Scotia

(Get Free Report)

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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