State of Wyoming Sells 13,080 Shares of Bank of Nova Scotia (The) $BNS

State of Wyoming trimmed its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 80.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,180 shares of the bank’s stock after selling 13,080 shares during the quarter. State of Wyoming’s holdings in Bank of Nova Scotia were worth $220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BNS. Norges Bank purchased a new stake in Bank of Nova Scotia in the fourth quarter worth about $1,368,456,000. FIL Ltd grew its holdings in Bank of Nova Scotia by 49.5% during the 4th quarter. FIL Ltd now owns 16,489,540 shares of the bank’s stock worth $1,216,157,000 after acquiring an additional 5,461,052 shares in the last quarter. AQR Capital Management LLC increased its position in Bank of Nova Scotia by 3,120.1% during the 4th quarter. AQR Capital Management LLC now owns 3,556,295 shares of the bank’s stock valued at $262,284,000 after purchasing an additional 3,445,856 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in Bank of Nova Scotia during the 3rd quarter valued at about $138,394,000. Finally, Alberta Investment Management Corp bought a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at about $121,032,000. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

Shares of BNS stock opened at $87.90 on Friday. Bank of Nova Scotia has a 1-year low of $55.21 and a 1-year high of $90.47. The stock’s 50-day moving average is $84.99 and its 200 day moving average is $77.95. The company has a market cap of $107.68 billion, a P/E ratio of 16.78, a PEG ratio of 1.07 and a beta of 1.11. 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 announced its earnings results on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. The business had revenue of $7.24 billion during the quarter, compared to the consensus estimate of $7.13 billion. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share. Research analysts predict that Bank of Nova Scotia will post 6.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BNS. Royal Bank Of Canada upped their price target on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of Nova Scotia in a research note on Friday, May 22nd. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of Nova Scotia has an average rating of “Hold” and an average target price 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.