Andra AP fonden Takes $14.87 Million Position in Bank of Nova Scotia (The) $BNS

Andra AP fonden acquired a new position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 214,560 shares of the bank’s stock, valued at approximately $14,871,000.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Bank of Nova Scotia during the fourth quarter worth approximately $1,368,456,000. FIL Ltd lifted its holdings in Bank of Nova Scotia by 49.5% in the 4th quarter. FIL Ltd now owns 16,489,540 shares of the bank’s stock valued at $1,216,157,000 after purchasing an additional 5,461,052 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Bank of Nova Scotia by 3,120.1% in the 4th quarter. AQR Capital Management LLC now owns 3,556,295 shares of the bank’s stock valued at $262,284,000 after purchasing an additional 3,445,856 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Bank of Nova Scotia during the 3rd quarter worth $138,394,000. Finally, Alberta Investment Management Corp purchased a new stake in shares of Bank of Nova Scotia during the fourth quarter worth $121,032,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Wall Street Analysts Forecast Growth

BNS has been the subject of a number of recent research reports. Royal Bank Of Canada increased their target price on shares of 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of Nova Scotia in a report on Friday, May 22nd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of Nova Scotia has an average rating of “Hold” and a consensus price target of $117.00.

Bank of Nova Scotia Trading Up 0.4%

Shares of BNS stock opened at $87.41 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. Bank of Nova Scotia has a twelve month low of $55.21 and a twelve month high of $90.47. The company’s 50-day moving average price is $83.66 and its 200-day moving average price is $77.26. The stock has a market cap of $107.07 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.08 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.05. The firm had revenue of $7.24 billion during the quarter, compared to analysts’ expectations 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 revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business earned $1.52 earnings per share. As a group, equities analysts predict that Bank of Nova Scotia will post 6.01 earnings per share for the current year.

Bank of Nova Scotia 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.