As Bank N S Halifax (BNS) Valuation Declined, Scotia Capital INC Boosted Its Position by $29.80 Million

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 7.31M 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 Canadian Natl Ry Co (NYSE:CNI) by 39,015 shares to 1.70 million shares, valued at $137.67 million in 2017Q2, according to the filing. It also reduced its holding in Csx Corp (NYSE:CSX) by 58,932 shares in the quarter, leaving it with 59,994 shares, and cut its stake in Spdr S&P 500 Etf Tr (SPY).

More notable recent Bank of Nova Scotia (NYSE:BNS) news were published by: Fool.ca which released: “3 Reasons to Own Bank of Nova Scotia” on September 20, 2017, also Nasdaq.com with their article: “Ex-Dividend Reminder: Mack Cali Realty, Physicians Realty Trust and Bank of …” published on September 28, 2017, Fool.ca published: “Bank of Nova Scotia Is Selling TMX Group Limited: Should You?” on October 10, 2017. More interesting news about Bank of Nova Scotia (NYSE:BNS) were released by: Nasdaq.com and their article: “Bank of Nova Scotia (BNS) Ex-Dividend Date Scheduled for October 02, 2017” published on September 29, 2017 as well as Seekingalpha.com‘s news article titled: “Scotiabank And Dividend Growth Investing” with publication date: September 25, 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 stock of Bank of Nova Scotia (NYSE:BNS) earned “Outperform” rating by RBC Capital Markets on Wednesday, August 31. RBC Capital Markets maintained Bank of Nova Scotia (NYSE:BNS) on Wednesday, December 2 with “Outperform” rating. The stock of Bank of Nova Scotia (NYSE:BNS) has “Outperform” rating given on Wednesday, May 31 by RBC Capital Markets. Barclays Capital upgraded the shares of BNS in report on Tuesday, May 23 to “Overweight” rating. As per Monday, August 31, the company rating was maintained by RBC Capital Markets. Canaccord Genuity maintained Bank of Nova Scotia (NYSE:BNS) on Tuesday, August 29 with “Buy” rating. The rating was initiated by Dundee Securities with “Buy” on Wednesday, September 21. The firm has “Buy” rating by Canaccord Genuity given on Friday, August 28. The company was downgraded on Thursday, June 9 by Macquarie Research.

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