Alan B Lancz & Associates Inc. Invests $216,000 in Bank of Nova Scotia (The) $BNS

Alan B Lancz & Associates Inc. acquired a new stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,900 shares of the bank’s stock, valued at approximately $216,000.

Several other institutional investors have also bought and sold shares of the stock. PDS Planning Inc increased its stake in Bank of Nova Scotia by 2.9% during the 2nd quarter. PDS Planning Inc now owns 7,097 shares of the bank’s stock valued at $392,000 after buying an additional 200 shares during the period. Cromwell Holdings LLC boosted its holdings in shares of Bank of Nova Scotia by 7.8% in the second quarter. Cromwell Holdings LLC now owns 2,955 shares of the bank’s stock valued at $163,000 after acquiring an additional 213 shares in the last quarter. CWM LLC increased its stake in shares of Bank of Nova Scotia by 15.8% during the second quarter. CWM LLC now owns 2,084 shares of the bank’s stock valued at $115,000 after acquiring an additional 285 shares during the period. Avantax Advisory Services Inc. increased its stake in shares of Bank of Nova Scotia by 0.5% during the first quarter. Avantax Advisory Services Inc. now owns 58,073 shares of the bank’s stock valued at $2,754,000 after acquiring an additional 298 shares during the period. Finally, Orca Wealth Management LLC raised its holdings in Bank of Nova Scotia by 1.9% during the first quarter. Orca Wealth Management LLC now owns 16,839 shares of the bank’s stock worth $799,000 after purchasing an additional 307 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

Shares of NYSE BNS opened at $63.75 on Monday. The stock’s fifty day simple moving average is $62.30 and its 200 day simple moving average is $55.83. The stock has a market capitalization of $79.10 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.46 and a beta of 1.16. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.66. Bank of Nova Scotia has a 52-week low of $44.09 and a 52-week high of $65.52.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Tuesday, August 26th. The bank reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.09. The business had revenue of $6.85 billion during the quarter, compared to analyst estimates of $9.29 billion. Bank of Nova Scotia had a return on equity of 11.61% and a net margin of 9.74%.Bank of Nova Scotia’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the company posted $1.63 EPS. As a group, sell-side analysts forecast that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bank of Nova Scotia in a research report on Wednesday, October 8th. Wall Street Zen raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Royal Bank Of Canada boosted their price target on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 27th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.00.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.