Sumitomo Mitsui DS Asset Management Company Ltd Decreases Stock Position in Bank of Nova Scotia (The) $BNS

Sumitomo Mitsui DS Asset Management Company Ltd reduced its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,434 shares of the bank’s stock after selling 372 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Bank of Nova Scotia were worth $466,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Bayforest Capital Ltd raised its holdings in Bank of Nova Scotia by 2,005.4% in the 1st quarter. Bayforest Capital Ltd now owns 14,296 shares of the bank’s stock worth $678,000 after acquiring an additional 13,617 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Bank of Nova Scotia by 4.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,801 shares of the bank’s stock worth $512,000 after acquiring an additional 442 shares during the last quarter. Korea Investment CORP raised its holdings in Bank of Nova Scotia by 0.5% in the 1st quarter. Korea Investment CORP now owns 941,286 shares of the bank’s stock worth $44,623,000 after acquiring an additional 5,085 shares during the last quarter. Fox Run Management L.L.C. raised its holdings in Bank of Nova Scotia by 146.0% in the 1st quarter. Fox Run Management L.L.C. now owns 12,042 shares of the bank’s stock worth $571,000 after acquiring an additional 7,146 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Bank of Nova Scotia by 5.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,155,791 shares of the bank’s stock worth $54,819,000 after acquiring an additional 60,506 shares during the last quarter. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 27th. Wall Street Zen upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $86.00.

Bank of Nova Scotia Trading Down 0.7%

Shares of Bank of Nova Scotia stock opened at $64.45 on Tuesday. The company has a market capitalization of $79.96 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.50 and a beta of 1.16. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.03. The company has a fifty day moving average of $59.07 and a 200 day moving average of $53.66. Bank of Nova Scotia has a fifty-two week low of $44.09 and a fifty-two week high of $65.19.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, August 26th. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.09. The company had revenue of $6.85 billion during the quarter, compared to the consensus estimate of $9.29 billion. Bank of Nova Scotia had a net margin of 9.74% and a return on equity of 11.61%. Bank of Nova Scotia’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.63 EPS. On average, sell-side analysts anticipate that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Bank of Nova Scotia 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.