Citigroup Inc. Acquires 63,528 Shares of The Bank of Nova Scotia (NYSE:BNS)

Citigroup Inc. boosted its position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 12.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 580,664 shares of the bank's stock after acquiring an additional 63,528 shares during the period. Citigroup Inc.'s holdings in Bank of Nova Scotia were worth $31,673,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its position in shares of Bank of Nova Scotia by 4.7% in the 2nd quarter. Mackenzie Financial Corp now owns 15,091,880 shares of the bank's stock worth $690,438,000 after purchasing an additional 683,946 shares during the period. CIBC Asset Management Inc lifted its position in shares of Bank of Nova Scotia by 2.4% in the 3rd quarter. CIBC Asset Management Inc now owns 10,074,518 shares of the bank's stock worth $550,729,000 after purchasing an additional 240,803 shares during the period. Legal & General Group Plc lifted its position in shares of Bank of Nova Scotia by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 9,281,724 shares of the bank's stock worth $424,497,000 after purchasing an additional 57,796 shares during the period. Pathway Financial Advisers LLC lifted its position in shares of Bank of Nova Scotia by 5,380.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank's stock worth $216,447,000 after purchasing an additional 3,899,760 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Bank of Nova Scotia by 4.2% in the 3rd 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. Institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Stock Performance

Shares of BNS stock traded down $0.32 during trading hours on Tuesday, reaching $56.22. The company had a trading volume of 1,217,241 shares, compared to its average volume of 1,773,660. The business has a fifty day moving average price of $53.57 and a 200-day moving average price of $49.55. The Bank of Nova Scotia has a one year low of $41.80 and a one year high of $56.79. The firm has a market cap of $69.96 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 1.52 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.02.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.01. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The firm had revenue of $8.36 billion during the quarter, compared to analyst estimates of $8.53 billion. During the same period in the previous year, the business posted $1.30 earnings per share. The business's revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts predict that The Bank of Nova Scotia will post 4.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BNS has been the subject of several research analyst reports. Bank of America raised shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Tuesday, November 19th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. 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 shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a report on Monday, November 18th. Finally, TD Securities raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Bank of Nova Scotia currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

Bank of Nova Scotia 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.