Andra AP fonden Takes Position in Bank of Nova Scotia (The) $BNS

Andra AP fonden acquired a new position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the first quarter, Holdings Channel reports. The institutional investor acquired 214,560 shares of the bank’s stock, valued at approximately $14,871,000.

Several other hedge funds also recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in shares of Bank of Nova Scotia by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,008,689 shares of the bank’s stock valued at $416,415,000 after acquiring an additional 154,541 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Bank of Nova Scotia by 12.5% in the 1st quarter. Parallel Advisors LLC now owns 3,625 shares of the bank’s stock valued at $251,000 after acquiring an additional 403 shares during the period. SEB Asset Management AB acquired a new position in shares of Bank of Nova Scotia in the 1st quarter worth approximately $30,144,000. Mediolanum International Funds Ltd lifted its holdings in shares of Bank of Nova Scotia by 21.6% in the 1st quarter. Mediolanum International Funds Ltd now owns 160,374 shares of the bank’s stock worth $10,816,000 after acquiring an additional 28,494 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Bank of Nova Scotia by 4.5% during the 1st quarter. Bessemer Group Inc. now owns 67,445 shares of the bank’s stock worth $4,661,000 after purchasing an additional 2,927 shares during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $87.41 on Wednesday. The firm has a 50 day moving average of $83.66 and a two-hundred day moving average of $77.26. The stock has a market capitalization of $107.07 billion, a PE ratio of 16.68, a P/E/G ratio of 1.08 and a beta of 1.11. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. Bank of Nova Scotia has a 52 week low of $55.21 and a 52 week high of $90.47.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.05. The business had revenue of $7.24 billion for the quarter, compared to analysts’ expectations of $7.13 billion. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $1.52 earnings per share. On average, research analysts predict that Bank of Nova Scotia will post 6.01 EPS for the current fiscal year.

Analysts Set New Price Targets

BNS has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their target price on Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research report on Thursday, May 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of Nova Scotia in a research report on Friday, May 22nd. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Hold” and a consensus price target 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.