Bank of Nova Scotia (The) $BNS Position Boosted by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. grew its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 163.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,361,500 shares of the bank’s stock after buying an additional 844,200 shares during the period. Bank of Nova Scotia accounts for 9.1% of Nicola Wealth Management LTD.’s portfolio, making the stock its 2nd biggest position. Nicola Wealth Management LTD. owned approximately 0.11% of Bank of Nova Scotia worth $100,430,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Mondrian Investment Partners LTD purchased a new position in shares of Bank of Nova Scotia during the third quarter valued at approximately $30,000. Quarry LP purchased a new position in shares of Bank of Nova Scotia during the third quarter valued at approximately $35,000. Virtus Advisers LLC purchased a new position in shares of Bank of Nova Scotia during the third quarter valued at approximately $39,000. Nisa Investment Advisors LLC bought a new stake in shares of Bank of Nova Scotia during the fourth quarter valued at approximately $50,000. Finally, Fifth Third Bancorp boosted its position in shares of Bank of Nova Scotia by 79.2% during the fourth quarter. Fifth Third Bancorp now owns 688 shares of the bank’s stock valued at $51,000 after purchasing an additional 304 shares in the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Trading Up 0.0%

NYSE BNS opened at $79.79 on Monday. 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 stock’s 50 day moving average is $73.65 and its 200 day moving average is $72.92. Bank of Nova Scotia has a twelve month low of $51.00 and a twelve month high of $80.02. The firm has a market capitalization of $98.06 billion, a PE ratio of 16.59, a P/E/G ratio of 1.01 and a beta of 1.13.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its 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. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The business had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $6.99 billion. During the same period in the previous year, the company posted $1.76 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts forecast that Bank of Nova Scotia will post 6.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BNS has been the topic of several research reports. Canaccord Genuity Group lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Weiss Ratings upgraded Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, February 25th. TD Securities restated a “hold” rating on shares of Bank of Nova Scotia in a research report on Tuesday, March 3rd. Finally, Royal Bank Of Canada lifted their price target on Bank of Nova Scotia from $97.00 to $106.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Bank of Nova Scotia presently 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.