K.J. Harrison & Partners Inc Makes New Investment in Bank of Nova Scotia (The) $BNS

K.J. Harrison & Partners Inc acquired a new position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the second quarter, HoldingsChannel reports. The firm acquired 65,949 shares of the bank’s stock, valued at approximately $5,721,000.

Several other large investors also recently made changes to their positions in the stock. Maseco LLP acquired a new stake in Bank of Nova Scotia in the first quarter valued at $30,000. Swiss RE Ltd. bought a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at about $30,000. Brown Brothers Harriman & Co. bought a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at about $34,000. Quarry LP acquired a new stake in Bank of Nova Scotia in the 3rd quarter valued at about $35,000. Finally, CoreCap Advisors LLC lifted 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 valued at $38,000 after purchasing an additional 410 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on BNS shares. Royal Bank Of Canada boosted their price target on 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. Weiss Ratings raised Bank of Nova Scotia from a “buy (b)” rating to a “buy (a-)” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Moderate Buy” and a consensus price target of $117.00.

Bank of Nova Scotia Price Performance

Shares of BNS opened at $91.32 on Tuesday. The company’s 50-day moving average is $87.13 and its 200-day moving average is $79.25. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $111.30 billion, a PE ratio of 17.43, a PEG ratio of 1.14 and a beta of 1.11. Bank of Nova Scotia has a fifty-two week low of $56.54 and a fifty-two week high of $92.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. The business had revenue of $7.24 billion for 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%. Bank of Nova Scotia’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.52 EPS. Equities analysts forecast that Bank of Nova Scotia will post 5.98 EPS for the current year.

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.