Bridgewater Associates LP Takes Position in The Bank of Nova Scotia (NYSE:BNS)

Bridgewater Associates LP purchased a new position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 82,229 shares of the bank’s stock, valued at approximately $4,485,000.

Several other large investors have also bought and sold shares of BNS. Sigma Planning Corp raised its position in shares of Bank of Nova Scotia by 1.9% during the 3rd quarter. Sigma Planning Corp now owns 11,089 shares of the bank’s stock valued at $604,000 after acquiring an additional 210 shares during the last quarter. Signaturefd LLC increased its holdings in Bank of Nova Scotia by 1.2% in the third quarter. Signaturefd LLC now owns 18,470 shares of the bank’s stock valued at $1,006,000 after purchasing an additional 216 shares during the last quarter. Addison Advisors LLC increased its holdings in Bank of Nova Scotia by 7.3% in the third quarter. Addison Advisors LLC now owns 3,357 shares of the bank’s stock valued at $183,000 after purchasing an additional 227 shares during the last quarter. Pacifica Partners Inc. lifted its stake in Bank of Nova Scotia by 1.5% in the second quarter. Pacifica Partners Inc. now owns 19,493 shares of the bank’s stock valued at $889,000 after buying an additional 288 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Bank of Nova Scotia by 11.9% during the third quarter. Farther Finance Advisors LLC now owns 2,713 shares of the bank’s stock worth $148,000 after buying an additional 288 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Performance

Shares of BNS opened at $57.04 on Friday. The firm has a market cap of $70.98 billion, a P/E ratio of 13.64, a PEG ratio of 1.46 and a beta of 1.05. The Bank of Nova Scotia has a twelve month low of $43.67 and a twelve month high of $57.05. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.02. The firm’s 50 day moving average price is $53.78 and its two-hundred day moving average price is $49.71.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Tuesday, August 27th. The bank reported $1.63 EPS for the quarter, beating the consensus estimate 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 net margin of 9.84% and a return on equity of 11.14%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 EPS. On average, analysts forecast that The Bank of Nova Scotia will post 4.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BNS has been the subject of a number of recent analyst reports. TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Barclays raised shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. UBS Group raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report 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 report on Tuesday, November 19th. Finally, Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Moderate Buy” and an average price target of $70.00.

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.