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 decreased its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 15.3% during the third quarter, Holdings Channel reports. The firm 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’s holdings in Bank of Nova Scotia were worth $88,803,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mather Group LLC. grew its stake in shares of Bank of Nova Scotia by 1,388.9% during the 2nd quarter. Mather Group LLC. now owns 536 shares of the bank’s stock valued at $25,000 after purchasing an additional 500 shares during the period. Blue Trust Inc. grew its position in Bank of Nova Scotia by 3,127.8% during the second quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock valued at $27,000 after buying an additional 563 shares during the period. BNP Paribas Financial Markets grew its position in 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 valued at $47,000 after buying an additional 810 shares during the period. City State Bank bought a new position in Bank of Nova Scotia in the third quarter worth approximately $57,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of 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 acquiring 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 Performance

NYSE:BNS opened at $56.77 on Tuesday. The stock has a 50-day moving average price of $53.78 and a 200 day moving average price of $49.73. The stock has a market capitalization of $70.65 billion, a P/E ratio of 13.58, a P/E/G ratio of 1.46 and a beta of 1.05. The Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month 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.

Analyst Ratings Changes

BNS has been the subject of several analyst reports. Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Barclays raised shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Moderate Buy” and an average price target of $70.00.

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.