Maverick Capital Ltd. Purchases New Shares in Bank of Nova Scotia (The) $BNS

Maverick Capital Ltd. purchased a new stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 36,701 shares of the bank’s stock, valued at approximately $2,546,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Prospera Financial Services Inc raised its holdings in 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 worth $341,000 after buying an additional 173 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Bank of Nova Scotia by 22.3% in the fourth quarter. Larson Financial Group LLC now owns 1,280 shares of the bank’s stock worth $94,000 after buying an additional 233 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Bank of Nova Scotia by 8.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,193 shares of the bank’s stock worth $235,000 after acquiring an additional 239 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Bank of Nova Scotia by 8.5% in the third quarter. Parallel Advisors LLC now owns 3,326 shares of the bank’s stock worth $215,000 after acquiring an additional 261 shares in the last quarter. Finally, Kathmere Capital Management LLC raised its holdings in shares of Bank of Nova Scotia by 8.5% during the first quarter. Kathmere Capital Management LLC now owns 3,579 shares of the bank’s stock valued at $248,000 after acquiring an additional 281 shares during the period. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Down 0.1%

NYSE:BNS opened at $86.89 on Tuesday. 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 has a fifty-two week low of $55.21 and a fifty-two week high of $90.47. The stock’s 50-day moving average is $84.45 and its two-hundred day moving average is $77.63. The stock has a market cap of $106.44 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 1.08 and a beta of 1.11.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share (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 analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.52 earnings per share. As a group, equities research analysts forecast that Bank of Nova Scotia will post 6.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BNS has been the subject of several research analyst reports. Royal Bank Of Canada upped their price target 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of Nova Scotia in a research report on Friday, May 22nd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $117.00.

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.