UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 295,087 Shares of The Bank of Nova Scotia (NYSE:BNS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 15.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,629,705 shares of the bank's stock after selling 295,087 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.13% of Bank of Nova Scotia worth $88,803,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Public Sector Pension Investment Board increased its holdings in shares of Bank of Nova Scotia by 0.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 161,073 shares of the bank's stock worth $8,786,000 after acquiring an additional 780 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Bank of Nova Scotia by 40.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 747,863 shares of the bank's stock valued at $40,793,000 after purchasing an additional 216,371 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Bank of Nova Scotia by 24.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank's stock valued at $640,624,000 after purchasing an additional 2,346,995 shares during the period. Bridgewater Associates LP acquired a new stake in shares of Bank of Nova Scotia during the 3rd quarter worth about $4,485,000. Finally, Transamerica Financial Advisors Inc. bought a new stake in shares of Bank of Nova Scotia during the 3rd quarter worth about $300,000. Institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock traded down $1.99 during mid-day trading on Tuesday, reaching $54.78. The company had a trading volume of 2,219,810 shares, compared to its average volume of 1,075,354. The business has a fifty day simple moving average of $53.78 and a 200 day simple moving average of $49.73. The company has a market cap of $68.17 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.46 and a beta of 1.07. The Bank of Nova Scotia has a fifty-two week low of $43.67 and a fifty-two week high of $57.07. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays raised Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a report on Thursday, November 21st. 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. UBS Group upgraded Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research note on Monday, November 18th. Bank of America upgraded Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research note on Tuesday, November 19th. Finally, Canaccord Genuity Group raised Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $70.00.

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.