Zurcher Kantonalbank Zurich Cantonalbank Has $40.79 Million Stock Position in The Bank of Nova Scotia (NYSE:BNS)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 40.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 747,863 shares of the bank's stock after buying an additional 216,371 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Bank of Nova Scotia worth $40,793,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rathbones Group PLC raised its holdings in Bank of Nova Scotia by 11.8% during the second quarter. Rathbones Group PLC now owns 136,337 shares of the bank's stock worth $6,235,000 after purchasing an additional 14,379 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Bank of Nova Scotia by 17.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank's stock valued at $241,981,000 after purchasing an additional 660,097 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Bank of Nova Scotia by 2,455.8% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,521,906 shares of the bank's stock worth $69,627,000 after buying an additional 1,462,360 shares in the last quarter. Intact Investment Management Inc. lifted its holdings in shares of Bank of Nova Scotia by 48.3% in the third quarter. Intact Investment Management Inc. now owns 1,563,594 shares of the bank's stock valued at $85,201,000 after buying an additional 509,120 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake 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 valued at $204,214,000 after buying an additional 150,247 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Trading Up 0.6 %

Bank of Nova Scotia stock traded up $0.31 during midday trading on Friday, reaching $57.04. The stock had a trading volume of 502,311 shares, compared to its average volume of 1,764,488. 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 current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $70.98 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 1.46 and a beta of 1.05. The firm's fifty day simple moving average is $53.78 and its two-hundred day simple moving average is $49.71.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last issued its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share 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 the consensus estimate 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 revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 earnings per share. Equities analysts anticipate that The Bank of Nova Scotia will post 4.74 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BNS shares. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Bank of America raised shares of Bank of Nova Scotia from a "neutral" 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 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. Finally, UBS Group upgraded Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Bank of Nova Scotia presently has an average rating of "Moderate Buy" and an average target price of $69.00.

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.