The Bank of Nova Scotia (NYSE:BNS) Short Interest Up 9.3% in November

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 29,340,000 shares, an increase of 9.3% from the October 31st total of 26,850,000 shares. Based on an average daily trading volume, of 1,590,000 shares, the short-interest ratio is currently 18.5 days. Approximately 2.4% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barclays upgraded Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 21st. TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Cibc World Mkts raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Hedge Funds Weigh In On Bank of Nova Scotia

A number of hedge funds have recently bought and sold shares of BNS. Mather Group LLC. grew its position in Bank of Nova Scotia by 1,388.9% in the 2nd quarter. Mather Group LLC. now owns 536 shares of the bank’s stock valued at $25,000 after acquiring an additional 500 shares in the last quarter. Blue Trust Inc. raised its position in Bank of Nova Scotia by 3,127.8% in the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock valued at $27,000 after purchasing an additional 563 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Bank of Nova Scotia by 1,588.2% during the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock worth $47,000 after buying an additional 810 shares during the period. City State Bank acquired a new position in shares of Bank of Nova Scotia in the third quarter valued at approximately $57,000. Finally, EverSource Wealth Advisors LLC raised its position in Bank of Nova Scotia by 102.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,605 shares of the bank’s stock worth $83,000 after buying an additional 811 shares during the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Up 0.9 %

Bank of Nova Scotia stock traded up $0.52 during mid-day trading on Wednesday, reaching $55.30. 632,108 shares of the company were exchanged, compared to its average volume of 1,758,546. The business has a fifty day moving average of $53.85 and a 200 day moving average of $49.84. Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month high of $57.07. 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 has a market cap of $68.82 billion, a P/E ratio of 13.22, a PEG ratio of 1.46 and a beta of 1.07.

About Bank of Nova Scotia

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.