Bank N S Halifax (BNS) Shareholder Scotia Capital INC Boosted Its Holding

October 13, 2017 - By Linda Rogers

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 7.81M shares of the major banks company at the end of 2017Q2, valued at $469.36 million, up from 7.31 million 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 $77.32B 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 Potash Corp Sask Inc (NYSE:POT) by 789,592 shares to 502,706 shares, valued at $8.18 million in 2017Q2, according to the filing. It also reduced its holding in Cisco Sys Inc (Call) (NASDAQ:CSCO) by 130,000 shares in the quarter, leaving it with 35,000 shares, and cut its stake in Boeing Co (NYSE:BA).

More notable recent Bank of Nova Scotia (NYSE:BNS) news were published by: Fool.ca which released: “Bank of Nova Scotia Is Selling TMX Group Limited: Should You?” on October 10, 2017, also Zacks.com with their article: “Why You Shouldn’t Bet Against Bank of Nova Scotia (BNS) Stock September 26, 2017” published on September 26, 2017, Seekingalpha.com published: “Scotiabank And Dividend Growth Investing” on September 25, 2017. More interesting news about Bank of Nova Scotia (NYSE:BNS) were released by: Theglobeandmail.com and their article: “Scotiabank’s AT1 security a hit; other banks expected to follow suit” published on October 10, 2017 as well as Fool.ca‘s news article titled: “3 Reasons to Own Bank of Nova Scotia” with publication date: September 20, 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 “Buy” rating by Canaccord Genuity given on Friday, August 28. The rating was initiated by Dundee Securities with “Buy” on Wednesday, September 21. The rating was maintained by RBC Capital Markets on Wednesday, December 2 with “Outperform”. Macquarie Research downgraded Bank of Nova Scotia (NYSE:BNS) on Thursday, June 9 to “Neutral” rating. The rating was maintained by RBC Capital Markets with “Outperform” on Wednesday, May 31. RBC Capital Markets maintained the shares of BNS in report on Wednesday, August 31 with “Outperform” rating. The stock of Bank of Nova Scotia (NYSE:BNS) has “Overweight” rating given on Tuesday, May 23 by Barclays Capital. As per Tuesday, August 29, the company rating was maintained by Canaccord Genuity. RBC Capital Markets maintained Bank of Nova Scotia (NYSE:BNS) on Monday, August 31 with “Outperform” rating.

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