Scheer Rowlett & Associates Investment Management Ltd. Has $65.76 Million Stake in Bank of Nova Scotia (The) $BNS

Scheer Rowlett & Associates Investment Management Ltd. lifted its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 2.9% during the second quarter, Holdings Channel reports. The firm owned 1,188,376 shares of the bank’s stock after buying an additional 33,800 shares during the period. Bank of Nova Scotia comprises about 4.3% of Scheer Rowlett & Associates Investment Management Ltd.’s holdings, making the stock its 7th largest position. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Bank of Nova Scotia were worth $65,755,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cypress Capital Management LLC WY acquired a new stake in Bank of Nova Scotia in the second quarter worth $33,000. MAI Capital Management grew its position in shares of Bank of Nova Scotia by 40.7% during the first quarter. MAI Capital Management now owns 1,211 shares of the bank’s stock worth $57,000 after acquiring an additional 350 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Bank of Nova Scotia in the 1st quarter worth about $69,000. CWM LLC lifted its position in Bank of Nova Scotia by 15.8% in the 2nd quarter. CWM LLC now owns 2,084 shares of the bank’s stock valued at $115,000 after purchasing an additional 285 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Bank of Nova Scotia by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,343 shares of the bank’s stock valued at $159,000 after purchasing an additional 336 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Up 1.2%

Shares of NYSE:BNS opened at $66.66 on Friday. The company has a 50 day moving average of $64.43 and a 200-day moving average of $57.80. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.66. The firm has a market cap of $82.52 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.49 and a beta of 1.17. Bank of Nova Scotia has a twelve month low of $44.09 and a twelve month high of $66.70.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Tuesday, August 26th. The bank reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.09. The business had revenue of $6.85 billion for the quarter, compared to analyst estimates of $9.29 billion. Bank of Nova Scotia had a net margin of 9.74% and a return on equity of 11.61%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the business earned $1.63 earnings per share. As a group, analysts anticipate that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BNS shares. Weiss Ratings restated a “buy (b-)” rating on shares of Bank of Nova Scotia in a research report on Wednesday, October 8th. Wall Street Zen raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Royal Bank Of Canada raised their target price on Bank of Nova Scotia from $80.00 to $86.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $86.00.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.