State of Wyoming Takes Position in Bank of Nova Scotia (The) $BNS

State of Wyoming bought a new position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,640 shares of the bank’s stock, valued at approximately $1,185,000.

Several other hedge funds and other institutional investors have also modified their holdings of BNS. Swiss RE Ltd. acquired a new position in Bank of Nova Scotia in the fourth quarter valued at about $30,000. Maseco LLP acquired a new stake in shares of Bank of Nova Scotia during the first quarter worth approximately $30,000. CoreCap Advisors LLC raised its stake in shares of Bank of Nova Scotia by 1,366.7% in the second quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock valued at $38,000 after acquiring an additional 410 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of Bank of Nova Scotia in the fourth quarter valued at approximately $34,000. Finally, Quarry LP acquired a new position in shares of Bank of Nova Scotia in the 3rd quarter worth approximately $35,000. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Up 0.9%

BNS opened at $91.49 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $111.51 billion, a PE ratio of 17.46, a PEG ratio of 1.14 and a beta of 1.11. Bank of Nova Scotia has a 1-year low of $56.54 and a 1-year high of $91.55. The firm has a 50-day moving average price of $86.93 and a two-hundred day moving average price of $79.12.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $7.24 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same period in the previous year, the firm posted $1.52 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. As a group, equities analysts anticipate that Bank of Nova Scotia will post 5.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BNS has been the topic of a number of research analyst reports. Weiss Ratings upgraded Bank of Nova Scotia from a “buy (b)” rating to a “buy (a-)” rating in a research report on Monday, August 3rd. Royal Bank Of Canada lifted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Bank of Nova Scotia currently has an average rating of “Moderate Buy” and a consensus price target 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.