Citigroup Inc. Has $31.67 Million Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

Citigroup Inc. raised its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 12.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 580,664 shares of the bank’s stock after purchasing an additional 63,528 shares during the period. Citigroup Inc.’s holdings in Bank of Nova Scotia were worth $31,673,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. 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. Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. 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 raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, 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. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Bank of Nova Scotia presently has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Bank of Nova Scotia Trading Up 0.2 %

Shares of BNS opened at $56.55 on Tuesday. 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 company has a market cap of $70.37 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 1.52 and a beta of 1.05. The stock has a fifty day moving average price of $53.49 and a two-hundred day moving average price of $49.49. The Bank of Nova Scotia has a 52-week low of $41.80 and a 52-week high of $56.79.

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

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.