1,645,661 Shares in Bank of Nova Scotia (The) $BNS Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp purchased a new stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,645,661 shares of the bank’s stock, valued at approximately $142,985,000. Bank of Nova Scotia accounts for approximately 0.9% of OMERS ADMINISTRATION Corp’s investment portfolio, making the stock its 25th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Bank of Nova Scotia during the 4th quarter worth $1,368,456,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Bank of Nova Scotia in the second quarter valued at about $567,278,000. FIL Ltd boosted its position in shares of Bank of Nova Scotia by 49.5% in the fourth quarter. FIL Ltd now owns 16,489,540 shares of the bank’s stock valued at $1,216,157,000 after acquiring an additional 5,461,052 shares during the period. AQR Capital Management LLC grew its stake in shares of Bank of Nova Scotia by 3,120.1% in the fourth quarter. AQR Capital Management LLC now owns 3,556,295 shares of the bank’s stock valued at $262,284,000 after acquiring an additional 3,445,856 shares in the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of Bank of Nova Scotia in the second quarter valued at about $232,012,000. 49.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on BNS. Weiss Ratings lowered shares of Bank of Nova Scotia from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, August 18th. Royal Bank Of Canada increased their target price 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. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Bank of Nova Scotia in a report on Friday. They set an “outperform” rating on the stock. Three 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.00.

Bank of Nova Scotia Stock Performance

NYSE:BNS opened at $87.56 on Monday. The stock has a fifty day moving average price of $87.58 and a 200-day moving average price of $79.60. The company has a market cap of $106.72 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 1.08 and a beta of 1.11. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.04 and a current ratio of 1.04. Bank of Nova Scotia has a fifty-two week low of $56.55 and a fifty-two week high of $92.04.

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