EP Wealth Advisors LLC Takes $1.15 Million Position in Bank of Nova Scotia (The) $BNS

EP Wealth Advisors LLC acquired a new stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the 2nd quarter, Holdings Channel reports. The fund acquired 13,197 shares of the bank’s stock, valued at approximately $1,146,000.

Other institutional investors also recently bought and sold shares of the company. Ieq Capital LLC acquired a new position in Bank of Nova Scotia during the 2nd quarter valued at approximately $2,111,000. OneAscent Family Office LLC acquired a new stake in shares of Bank of Nova Scotia during the second quarter worth $269,000. Allworth Financial LP purchased a new stake in shares of Bank of Nova Scotia during the second quarter valued at $96,000. Greenspring Advisors LLC purchased a new stake in shares of Bank of Nova Scotia during the second quarter valued at $328,000. Finally, Virtus Advisers LLC acquired a new position in shares of Bank of Nova Scotia in the 2nd quarter valued at $404,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Trading Down 0.0%

Shares of Bank of Nova Scotia stock opened at $87.56 on Monday. The stock has a market cap of $106.72 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.08 and a beta of 1.11. The firm has a fifty day moving average price of $87.58 and a 200 day moving average price of $79.60. Bank of Nova Scotia has a 1 year low of $56.55 and a 1 year high of $92.04. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, beating the consensus estimate of $1.42 by $0.05. The company had revenue of $7.24 billion for the quarter, compared to analyst estimates of $7.13 billion. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.52 earnings per share. Equities research analysts predict that Bank of Nova Scotia will post 6.03 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on BNS. Keefe, Bruyette & Woods assumed coverage on Bank of Nova Scotia in a research report on Friday. They set an “outperform” rating for the company. Royal Bank Of Canada increased their price objective on Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a report on Thursday, May 28th. Finally, Weiss Ratings cut Bank of Nova Scotia from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, August 18th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock 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.