The Manufacturers Life Insurance Company Has $241.98 Million Holdings in The Bank of Nova Scotia (NYSE:BNS)

The Manufacturers Life Insurance Company increased its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 17.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,438,129 shares of the bank’s stock after purchasing an additional 660,097 shares during the period. The Manufacturers Life Insurance Company’s holdings in Bank of Nova Scotia were worth $241,981,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BNS. Brown Brothers Harriman & Co. boosted its stake in shares of Bank of Nova Scotia by 700.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,568 shares of the bank’s stock worth $194,000 after acquiring an additional 3,122 shares in the last quarter. Nwam LLC bought a new position in shares of Bank of Nova Scotia in the 3rd quarter valued at approximately $261,000. Citigroup Inc. lifted its holdings in Bank of Nova Scotia by 12.3% in the 3rd quarter. Citigroup Inc. now owns 580,664 shares of the bank’s stock worth $31,673,000 after purchasing an additional 63,528 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Bank of Nova Scotia by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,744,062 shares of the bank’s stock worth $204,214,000 after purchasing an additional 150,247 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Bank of Nova Scotia by 3.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 63,849 shares of the bank’s stock valued at $3,479,000 after purchasing an additional 2,090 shares during the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BNS has been the subject of a number of analyst reports. 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. Cibc World Mkts raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. UBS Group raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Bank of Nova Scotia Stock Up 0.2 %

BNS stock opened at $56.55 on Tuesday. The business’s 50-day simple moving average is $53.49 and its 200 day simple moving average is $49.49. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The company has a market cap of $70.37 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.52 and a beta of 1.05. The Bank of Nova Scotia has a twelve month low of $41.80 and a twelve month high of $56.79.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, August 27th. The bank reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.01. The business had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.53 billion. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. Bank of Nova Scotia’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 earnings per share. On average, research analysts anticipate that The Bank of Nova Scotia will post 4.53 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.