MQS Management LLC Buys New Stake in Bank of Nova Scotia (The) $BNS

MQS Management LLC purchased a new position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,593 shares of the bank’s stock, valued at approximately $734,000.

A number of other hedge funds also recently bought and sold shares of the business. Prospera Financial Services Inc raised its position in shares of Bank of Nova Scotia by 3.9% during the 4th quarter. Prospera Financial Services Inc now owns 4,625 shares of the bank’s stock valued at $341,000 after buying an additional 173 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Bank of Nova Scotia by 9.6% in the third quarter. EverSource Wealth Advisors LLC now owns 2,373 shares of the bank’s stock worth $153,000 after acquiring an additional 208 shares in the last quarter. Larson Financial Group LLC increased its stake in Bank of Nova Scotia by 22.3% during the fourth quarter. Larson Financial Group LLC now owns 1,280 shares of the bank’s stock worth $94,000 after acquiring an additional 233 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Bank of Nova Scotia by 8.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,193 shares of the bank’s stock valued at $235,000 after purchasing an additional 239 shares during the period. Finally, Parallel Advisors LLC raised its position in Bank of Nova Scotia by 8.5% during the third quarter. Parallel Advisors LLC now owns 3,326 shares of the bank’s stock valued at $215,000 after purchasing an additional 261 shares during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BNS. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of Nova Scotia in a research report on Friday, May 22nd. Canaccord Genuity Group downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. TD Securities reaffirmed a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Finally, Royal Bank Of Canada boosted their price objective on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of “Hold” and a consensus target price of $117.00.

Bank of Nova Scotia Stock Up 0.3%

Shares of NYSE:BNS opened at $86.89 on Wednesday. The firm has a market capitalization of $106.43 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 1.07 and a beta of 1.12. The business has a 50 day simple moving average of $80.45 and a two-hundred day simple moving average of $75.76. Bank of Nova Scotia has a 1 year low of $54.29 and a 1 year high of $87.97. 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 issued its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, topping 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 firm had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same period in the prior year, the business posted $1.52 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts predict that Bank of Nova Scotia will post 6.01 EPS for the current year.

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.