HAP Trading LLC Purchases Shares of 71,032 Bank of Nova Scotia (The) $BNS

HAP Trading LLC purchased a new position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 71,032 shares of the bank’s stock, valued at approximately $3,926,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BNS. Motco lifted its stake in shares of Bank of Nova Scotia by 1.2% during the 3rd quarter. Motco now owns 14,832 shares of the bank’s stock valued at $959,000 after buying an additional 181 shares in the last quarter. Pacifica Partners Inc. raised its holdings in Bank of Nova Scotia by 1.0% during the third quarter. Pacifica Partners Inc. now owns 18,998 shares of the bank’s stock valued at $1,227,000 after acquiring an additional 190 shares during the period. Addison Advisors LLC lifted its position in shares of Bank of Nova Scotia by 6.5% in the second quarter. Addison Advisors LLC now owns 3,275 shares of the bank’s stock valued at $181,000 after acquiring an additional 199 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Bank of Nova Scotia by 9.6% in the third quarter. EverSource Wealth Advisors LLC now owns 2,373 shares of the bank’s stock worth $153,000 after acquiring an additional 208 shares during the period. Finally, Fiera Capital Corp boosted its stake in shares of Bank of Nova Scotia by 0.5% in the third quarter. Fiera Capital Corp now owns 45,482 shares of the bank’s stock worth $2,940,000 after acquiring an additional 213 shares during the period. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Stock Performance

Bank of Nova Scotia stock opened at $74.38 on Thursday. The company’s 50-day moving average price is $74.80 and its 200-day moving average price is $68.96. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.68. The company has a market cap of $91.69 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 0.89 and a beta of 1.10. Bank of Nova Scotia has a twelve month low of $44.09 and a twelve month high of $78.28.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Tuesday, February 24th. The bank reported $1.48 EPS for the quarter, topping the consensus estimate of $1.42 by $0.06. The company had revenue of $7.40 billion during the quarter, compared to analyst estimates of $6.99 billion. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The firm’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $1.76 earnings per share. On average, equities research analysts forecast that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Royal Bank Of Canada boosted their price target on Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a report on Tuesday. Raymond James Financial began coverage on shares of Bank of Nova Scotia in a research note on Tuesday, November 25th. They set an “outperform” rating for the company. Finally, Weiss Ratings upgraded shares of Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $106.00.

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.