Scotia Capital INC Has Boosted Holding in Bank N S Halifax (BNS)

October 13, 2017 - By Winifred Garcia

Scotia Capital Inc increased its stake in Bank N S Halifax (BNS) by 6.79% based on its latest 2017Q2 regulatory filing with the SEC. Scotia Capital Inc bought 496,634 shares as the company’s stock declined 10.69% while stock markets rallied. The institutional investor held 7.81 million shares of the major banks company at the end of 2017Q2, valued at $469.36 million, up from 7.31M at the end of the previous reported quarter. Scotia Capital Inc who had been investing in Bank N S Halifax for a number of months, seems to be bullish on the $77.32 billion market cap company. The stock rose 0.11% or $0.07 reaching $64.67 per share. About 826,393 shares traded or 26.64% up from the average. Bank of Nova Scotia (NYSE:BNS) has risen 16.52% since October 13, 2016 and is uptrending. It has underperformed by 0.18% the S&P500.

Scotia Capital Inc, which manages about $5.93 billion US Long portfolio, decreased its stake in Cisco Sys Inc (Call) (NASDAQ:CSCO) by 130,000 shares to 35,000 shares, valued at $1.10 million in 2017Q2, according to the filing. It also reduced its holding in Canadian Natl Ry Co (NYSE:CNI) by 39,015 shares in the quarter, leaving it with 1.70M shares, and cut its stake in Fortis Inc (FRTSF).

More notable recent Bank of Nova Scotia (NYSE:BNS) news were published by: Zacks.com which released: “Why You Shouldn’t Bet Against Bank of Nova Scotia (BNS) Stock September 26, 2017” on September 26, 2017, also Seekingalpha.com with their article: “Scotiabank And Dividend Growth Investing” published on September 25, 2017, Fool.ca published: “3 Reasons to Own Bank of Nova Scotia” on September 20, 2017. More interesting news about Bank of Nova Scotia (NYSE:BNS) were released by: Fool.ca and their article: “Bank of Nova Scotia Is Selling TMX Group Limited: Should You?” published on October 10, 2017 as well as Nasdaq.com‘s news article titled: “Bank of Nova Scotia (BNS) Ex-Dividend Date Scheduled for October 02, 2017” with publication date: September 29, 2017.

Bank of Nova Scotia (NYSE:BNS) Ratings Coverage

Among 9 analysts covering The Bank Of Nova Scotia (NYSE:BNS), 6 have Buy rating, 0 Sell and 3 Hold. Therefore 67% are positive. The Bank Of Nova Scotia had 17 analyst reports since August 4, 2015 according to SRatingsIntel. The firm has “Neutral” rating by Macquarie Research given on Thursday, June 9. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, August 31. The rating was initiated by Dundee Securities on Wednesday, September 21 with “Buy”. The stock has “Buy” rating by Canaccord Genuity on Tuesday, August 29. RBC Capital Markets maintained it with “Outperform” rating and $73 target in Monday, August 31 report. On Friday, August 28 the stock rating was maintained by Canaccord Genuity with “Buy”. Barclays Capital upgraded Bank of Nova Scotia (NYSE:BNS) on Tuesday, May 23 to “Overweight” rating. The firm has “Outperform” rating given on Wednesday, May 31 by RBC Capital Markets. The rating was maintained by RBC Capital Markets on Wednesday, December 2 with “Outperform”.

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