Silverlake Wealth Management LLC Buys New Holdings in Bank of Nova Scotia (The) $BNS

Silverlake Wealth Management LLC purchased a new position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 7,126 shares of the bank’s stock, valued at approximately $619,000.

Other institutional investors also recently bought and sold shares of the company. Swiss RE Ltd. acquired a new stake in Bank of Nova Scotia during the 4th quarter valued at approximately $30,000. Maseco LLP acquired a new stake in shares of Bank of Nova Scotia in the first quarter worth $30,000. CoreCap Advisors LLC increased its stake in shares of Bank of Nova Scotia by 1,366.7% in the second quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock worth $38,000 after acquiring an additional 410 shares during the period. Brown Brothers Harriman & Co. purchased a new position in shares of Bank of Nova Scotia during the fourth quarter worth $34,000. Finally, Quarry LP acquired a new position in Bank of Nova Scotia during the third quarter valued at $35,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on BNS. Weiss Ratings raised shares of Bank of Nova Scotia from a “buy (b)” rating to a “buy (a-)” rating in a report on Monday, August 3rd. Royal Bank Of Canada lifted their price objective on Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Moderate Buy” and an average price target of $117.00.

Bank of Nova Scotia Trading Up 0.9%

Bank of Nova Scotia stock opened at $91.49 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. Bank of Nova Scotia has a 12 month low of $56.54 and a 12 month high of $91.55. The stock’s 50 day simple moving average is $86.93 and its two-hundred day simple moving average is $79.12. The firm has a market cap of $111.51 billion, a PE ratio of 17.46, a P/E/G ratio of 1.14 and a beta of 1.11.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $7.13 billion. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned $1.52 EPS. Analysts anticipate that Bank of Nova Scotia will post 5.98 earnings per share for the current year.

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.