Chesapeake Capital Corp IL Takes Position in Bank of Nova Scotia (The) $BNS

Chesapeake Capital Corp IL acquired a new stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,768 shares of the bank’s stock, valued at approximately $1,213,000. Bank of Nova Scotia accounts for about 1.1% of Chesapeake Capital Corp IL’s investment portfolio, making the stock its 16th largest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BNS. Mondrian Investment Partners LTD purchased a new stake in Bank of Nova Scotia in the 3rd quarter worth $30,000. Smartleaf Asset Management LLC increased its holdings in shares of Bank of Nova Scotia by 3,304.3% in the third quarter. Smartleaf Asset Management LLC now owns 783 shares of the bank’s stock worth $51,000 after purchasing an additional 760 shares during the last quarter. VSM Wealth Advisory LLC purchased a new stake in shares of Bank of Nova Scotia in the second quarter worth about $55,000. Toth Financial Advisory Corp purchased a new stake in shares of Bank of Nova Scotia in the third quarter worth about $67,000. Finally, MAI Capital Management boosted its stake in Bank of Nova Scotia by 27.4% during the second quarter. MAI Capital Management now owns 1,543 shares of the bank’s stock valued at $85,000 after buying an additional 332 shares during the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

BNS opened at $68.73 on Friday. The business has a fifty day moving average of $74.39 and a 200 day moving average of $69.56. Bank of Nova Scotia has a 52-week low of $44.09 and a 52-week high of $78.28. 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 has a market cap of $84.73 billion, a P/E ratio of 14.29, a PEG ratio of 0.85 and a beta of 1.10.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted 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 for the quarter, compared to the consensus estimate of $6.99 billion. Bank of Nova Scotia had a net margin of 12.40% and a return on equity of 12.49%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.76 EPS. As a group, sell-side analysts anticipate that Bank of Nova Scotia will post 4.91 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Raymond James Financial started coverage on shares of Bank of Nova Scotia in a research note on Tuesday, November 25th. They set an “outperform” rating on the stock. Royal Bank Of Canada lifted their price objective on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 25th. Weiss Ratings upgraded shares of Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, February 25th. Canaccord Genuity Group downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, TD Securities reiterated a “hold” rating on shares of Bank of Nova Scotia in a research report on Tuesday, March 3rd. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of “Hold” and a consensus target price of $106.00.

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.