First Trust Advisors LP Has $48.02 Million Position in Bank of Nova Scotia (The) $BNS

First Trust Advisors LP lifted its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 4.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 692,738 shares of the bank’s stock after acquiring an additional 31,448 shares during the period. First Trust Advisors LP owned approximately 0.06% of Bank of Nova Scotia worth $48,019,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BNS. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Bank of Nova Scotia by 17.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 285,843 shares of the bank’s stock worth $21,109,000 after buying an additional 41,443 shares in the last quarter. Kepler Cheuvreux Suisse SA grew its position in shares of Bank of Nova Scotia by 85.7% during the 4th quarter. Kepler Cheuvreux Suisse SA now owns 246,523 shares of the bank’s stock worth $18,166,000 after buying an additional 113,765 shares during the period. Vanguard Group Inc. increased its stake in shares of Bank of Nova Scotia by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 57,237,537 shares of the bank’s stock valued at $4,221,440,000 after acquiring an additional 1,169,073 shares in the last quarter. Triasima Portfolio Management inc. increased its stake in shares of Bank of Nova Scotia by 22.6% in the 4th quarter. Triasima Portfolio Management inc. now owns 129,807 shares of the bank’s stock valued at $9,586,000 after acquiring an additional 23,925 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Bank of Nova Scotia during the 4th quarter valued at $66,527,000. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Trading Up 0.0%

Shares of BNS stock opened at $87.03 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $106.61 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.08 and a beta of 1.11. The company has a 50-day simple moving average of $84.26 and a two-hundred day simple moving average of $77.53. Bank of Nova Scotia has a 52-week low of $55.21 and a 52-week high of $90.47.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share (EPS) 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 business had revenue of $7.24 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter last year, the company posted $1.52 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts anticipate that Bank of Nova Scotia will post 6.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BNS has been the topic of several research analyst 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 stock a “sector perform” rating in a research note on Thursday, May 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of Nova Scotia in a research note on Friday, May 22nd. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $117.00.

About Bank of Nova Scotia

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.