PensionDanmark Pensionsforsikringsaktieselskab Acquires 15,100 Shares of Bank of Nova Scotia (The) $BNS

PensionDanmark Pensionsforsikringsaktieselskab grew its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 9.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 178,226 shares of the bank’s stock after buying an additional 15,100 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Bank of Nova Scotia were worth $15,460,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of BNS. Maseco LLP bought a new stake in shares of Bank of Nova Scotia in the 1st quarter valued at about $30,000. Swiss RE Ltd. purchased a new stake in Bank of Nova Scotia during the 4th quarter valued at about $30,000. Brown Brothers Harriman & Co. bought a new position in Bank of Nova Scotia during the 4th quarter worth approximately $34,000. Quarry LP bought a new position in Bank of Nova Scotia during the 3rd quarter worth approximately $35,000. Finally, CoreCap Advisors LLC increased its stake in Bank of Nova Scotia by 1,366.7% in the 2nd quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock worth $38,000 after purchasing an additional 410 shares during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

NYSE:BNS opened at $88.94 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The firm’s fifty day simple moving average is $85.96 and its 200 day simple moving average is $78.55. The stock has a market cap of $108.62 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 1.10 and a beta of 1.11. Bank of Nova Scotia has a twelve month low of $55.84 and a twelve month high of $90.47.

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. 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 analyst estimates of $7.13 billion. During the same period in the prior year, the business earned $1.52 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, research analysts predict that Bank of Nova Scotia will post 5.99 EPS for the current year.

Wall Street Analyst Weigh In

BNS has been the subject of several recent research reports. Weiss Ratings upgraded Bank of Nova Scotia from a “buy (b)” rating to a “buy (a-)” rating in a research report on Monday. Royal Bank Of Canada raised 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 report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $117.00.

Bank of Nova Scotia Company 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.