Alberta Investment Management Corp Boosts Holdings in Bank of Nova Scotia (The) $BNS

Alberta Investment Management Corp raised its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 6.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,641,000 shares of the bank’s stock after acquiring an additional 99,800 shares during the quarter. Bank of Nova Scotia makes up about 0.6% of Alberta Investment Management Corp’s holdings, making the stock its 16th largest holding. Alberta Investment Management Corp’s holdings in Bank of Nova Scotia were worth $121,032,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BNS. AQR Capital Management LLC boosted its holdings in shares of Bank of Nova Scotia by 111.2% in the first quarter. AQR Capital Management LLC now owns 19,096 shares of the bank’s stock valued at $911,000 after acquiring an additional 10,056 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Bank of Nova Scotia during the 2nd quarter worth approximately $330,000. EverSource Wealth Advisors LLC raised its stake in shares of Bank of Nova Scotia by 42.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,165 shares of the bank’s stock worth $120,000 after buying an additional 649 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Bank of Nova Scotia by 2.1% in the 2nd quarter. Sei Investments Co. now owns 21,212 shares of the bank’s stock valued at $1,172,000 after buying an additional 434 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in shares of Bank of Nova Scotia by 61.1% in the 2nd quarter. Quantinno Capital Management LP now owns 66,962 shares of the bank’s stock valued at $3,701,000 after buying an additional 25,400 shares during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of Nova Scotia in a report on Friday, May 22nd. TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a report on Tuesday, March 3rd. Royal Bank Of Canada boosted their target price on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 28th. Finally, Canaccord Genuity Group cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $117.00.

Bank of Nova Scotia Stock Up 0.9%

BNS stock opened at $87.16 on Friday. The company’s 50 day simple moving average is $78.44 and its 200-day simple moving average is $74.89. The firm has a market capitalization of $106.76 billion, a PE ratio of 16.63, a P/E/G ratio of 1.06 and a beta of 1.12. Bank of Nova Scotia has a 12 month low of $53.74 and a 12 month high of $87.80. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The business had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $7.13 billion. During the same period last year, the company posted $1.52 EPS. The company’s revenue was up 8.3% on a year-over-year basis. Equities analysts expect that Bank of Nova Scotia will post 6.05 earnings per share for the current fiscal year.

Bank of Nova Scotia Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.