Cidel Asset Management Inc. Buys 16,524 Shares of Bank of Nova Scotia (The) $BNS

Cidel Asset Management Inc. boosted its stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 11.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 161,500 shares of the bank’s stock after purchasing an additional 16,524 shares during the period. Cidel Asset Management Inc.’s holdings in Bank of Nova Scotia were worth $11,164,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Bank of Nova Scotia by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 57,237,537 shares of the bank’s stock worth $4,221,440,000 after purchasing an additional 1,169,073 shares during the last quarter. Canerector Inc. raised its holdings in Bank of Nova Scotia by 8,899.0% during the 3rd quarter. Canerector Inc. now owns 26,997,000 shares of the bank’s stock valued at $1,745,356,000 after buying an additional 26,697,000 shares during the last quarter. TD Asset Management Inc raised its holdings in Bank of Nova Scotia by 1.7% during the 4th quarter. TD Asset Management Inc now owns 18,674,585 shares of the bank’s stock valued at $1,379,120,000 after buying an additional 310,564 shares during the last quarter. Norges Bank purchased a new stake in Bank of Nova Scotia during the 4th quarter valued at $1,368,456,000. Finally, FIL Ltd boosted its position in Bank of Nova Scotia by 49.5% during the 4th quarter. FIL Ltd now owns 16,489,540 shares of the bank’s stock valued at $1,216,157,000 after buying an additional 5,461,052 shares during the period. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Down 0.6%

Shares of Bank of Nova Scotia stock opened at $86.37 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. The company’s fifty day simple moving average is $79.32 and its two-hundred day simple moving average is $75.25. The company has a market cap of $105.80 billion, a P/E ratio of 16.48, a PEG ratio of 1.07 and a beta of 1.12. Bank of Nova Scotia has a 12-month low of $54.04 and a 12-month high of $87.97.

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

Wall Street Analysts Forecast Growth

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

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.