Quantbot Technologies LP Takes Position in Bank of Nova Scotia (The) $BNS

Quantbot Technologies LP purchased a new position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 70,384 shares of the bank’s stock, valued at approximately $6,112,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in 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 valued at $4,221,440,000 after buying an additional 1,169,073 shares during the period. TD Asset Management Inc boosted its position in Bank of Nova Scotia by 1.7% during the fourth quarter. TD Asset Management Inc now owns 18,674,585 shares of the bank’s stock valued at $1,379,120,000 after acquiring an additional 310,564 shares during the last quarter. Norges Bank bought a new stake in Bank of Nova Scotia during the fourth quarter valued at $1,368,456,000. FIL Ltd grew its holdings 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 worth $1,216,157,000 after acquiring an additional 5,461,052 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Bank of Nova Scotia by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 12,259,989 shares of the bank’s stock worth $923,232,000 after acquiring an additional 799,474 shares during the period. Institutional investors and hedge funds own 49.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BNS. Keefe, Bruyette & Woods began coverage on Bank of Nova Scotia in a research note on Friday. They issued an “outperform” rating on the stock. Royal Bank Of Canada raised their target price on Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings downgraded Bank of Nova Scotia from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $117.00.

Bank of Nova Scotia Stock Up 1.3%

Shares of NYSE:BNS opened at $87.56 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.04 and a current ratio of 1.04. Bank of Nova Scotia has a 52-week low of $56.55 and a 52-week high of $92.04. The business’s 50 day simple moving average is $87.58 and its two-hundred day simple moving average is $79.57. The firm has a market cap of $106.72 billion, a P/E ratio of 16.71, a PEG ratio of 1.09 and a beta of 1.11.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, beating the consensus estimate of $1.42 by $0.05. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The firm had revenue of $7.24 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter in the previous year, the company posted $1.52 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, research analysts forecast that Bank of Nova Scotia will post 6.03 EPS for the current fiscal 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.