Hillsdale Investment Management Inc. Has $85.25 Million Holdings in Bank of Nova Scotia (The) $BNS

Hillsdale Investment Management Inc. lifted its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 5.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,153,861 shares of the bank’s stock after acquiring an additional 59,120 shares during the period. Bank of Nova Scotia accounts for about 2.4% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its 4th largest holding. Hillsdale Investment Management Inc. owned about 0.09% of Bank of Nova Scotia worth $85,253,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BNS. Mondrian Investment Partners LTD purchased a new stake in shares of Bank of Nova Scotia in the 3rd quarter worth approximately $30,000. Quarry LP purchased a new stake in shares of Bank of Nova Scotia in the 3rd quarter worth approximately $35,000. Virtus Advisers LLC purchased a new stake in shares of Bank of Nova Scotia in the 3rd quarter worth approximately $39,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Bank of Nova Scotia in the 3rd quarter worth approximately $45,000. Finally, Allworth Financial LP grew its stake in shares of Bank of Nova Scotia by 122.0% in the 3rd quarter. Allworth Financial LP now owns 715 shares of the bank’s stock worth $46,000 after buying an additional 393 shares during the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

Shares of BNS opened at $80.07 on Friday. The business’s fifty day simple moving average is $74.69 and its two-hundred day simple moving average is $73.37. The company has a current ratio of 1.04, a quick ratio of 1.05 and a debt-to-equity ratio of 0.69. Bank of Nova Scotia has a 12 month low of $52.44 and a 12 month high of $82.22. The company has a market cap of $98.41 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 1.01 and a beta of 1.13.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its 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. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The business had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same period last year, the business posted $1.52 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. Research analysts anticipate that Bank of Nova Scotia will post 6.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on BNS shares. Canaccord Genuity Group downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of Nova Scotia in a research note on Friday, May 22nd. TD Securities restated a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Finally, Royal Bank Of Canada upped their price target on Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Thursday. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $117.00.

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.