Scotia Capital INC Has Upped Its Position in Bank N S Halifax (BNS) by $29.80 Million as Shares Declined

October 13, 2017 - By Michael Collier

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 $469.36M, 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 $77.32 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 Spdr S&P 500 Etf Tr (SPY) by 37,048 shares to 75,338 shares, valued at $18.22 million in 2017Q2, according to the filing. It also reduced its holding in Boeing Co (NYSE:BA) by 29,120 shares in the quarter, leaving it with 77,151 shares, and cut its stake in Fortis Inc (FRTSF).

More notable recent Bank of Nova Scotia (NYSE:BNS) news were published by: which released: “Scotiabank’s AT1 security a hit; other banks expected to follow suit” on October 10, 2017, also with their article: “Why You Shouldn’t Bet Against Bank of Nova Scotia (BNS) Stock September 26, 2017” published on September 26, 2017, 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: and their article: “3 Reasons to Own Bank of Nova Scotia” published on September 20, 2017 as well as‘s news article titled: “Ex-Dividend Reminder: Mack Cali Realty, Physicians Realty Trust and Bank of …” with publication date: September 28, 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 rating was maintained by RBC Capital Markets with “Outperform” on Monday, August 31. On Wednesday, May 31 the stock rating was maintained by RBC Capital Markets with “Outperform”. The firm has “Buy” rating given on Tuesday, August 29 by Canaccord Genuity. Barclays Capital upgraded the shares of BNS in report on Tuesday, May 23 to “Overweight” rating. The firm earned “Outperform” rating on Wednesday, August 31 by RBC Capital Markets. The stock of Bank of Nova Scotia (NYSE:BNS) has “Buy” rating given on Friday, August 28 by Canaccord Genuity. On Thursday, June 9 the stock rating was downgraded by Macquarie Research to “Neutral”. The company was initiated on Wednesday, September 21 by Dundee Securities. RBC Capital Markets maintained Bank of Nova Scotia (NYSE:BNS) on Wednesday, December 2 with “Outperform” rating.

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