Dynamic Technology Lab Private Ltd Buys Shares of 10,021 Bank of Nova Scotia (The) $BNS

Dynamic Technology Lab Private Ltd purchased a new stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,021 shares of the bank’s stock, valued at approximately $648,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mondrian Investment Partners LTD acquired a new position in Bank of Nova Scotia in the third quarter valued at about $30,000. Smartleaf Asset Management LLC increased its stake in shares of Bank of Nova Scotia by 3,304.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 783 shares of the bank’s stock valued at $51,000 after acquiring an additional 760 shares during the last quarter. VSM Wealth Advisory LLC bought a new stake in shares of Bank of Nova Scotia in the 2nd quarter valued at about $55,000. Toth Financial Advisory Corp acquired a new stake in shares of Bank of Nova Scotia in the 3rd quarter valued at approximately $67,000. Finally, MAI Capital Management boosted its stake in Bank of Nova Scotia by 27.4% during the 2nd quarter. MAI Capital Management now owns 1,543 shares of the bank’s stock worth $85,000 after acquiring an additional 332 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Price Performance

Shares of BNS opened at $70.85 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50 day simple moving average of $74.68 and a 200 day simple moving average of $69.37. Bank of Nova Scotia has a 52-week low of $44.09 and a 52-week high of $78.28. The firm has a market capitalization of $87.35 billion, a PE ratio of 14.73, a P/E/G ratio of 0.87 and a beta of 1.10.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Tuesday, February 24th. The bank reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.06. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The business had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $6.99 billion. During the same period in the prior year, the business earned $1.76 EPS. Bank of Nova Scotia’s revenue for the quarter was up 2.9% compared to the same quarter last year. Sell-side analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BNS has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, February 25th. Raymond James Financial assumed coverage on shares of Bank of Nova Scotia in a report on Tuesday, November 25th. They issued an “outperform” rating on the stock. TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a research report on Tuesday, March 3rd. Finally, Royal Bank Of Canada upped their price objective on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $106.00.

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.