Gold Investment Management Ltd. Purchases 3,815 Shares of Bank of Nova Scotia (The) $BNS

Gold Investment Management Ltd. grew its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 2.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 142,484 shares of the bank’s stock after purchasing an additional 3,815 shares during the period. Bank of Nova Scotia accounts for about 3.0% of Gold Investment Management Ltd.’s investment portfolio, making the stock its 4th largest position. Gold Investment Management Ltd.’s holdings in Bank of Nova Scotia were worth $7,877,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Bank of Nova Scotia by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 53,184,171 shares of the bank’s stock worth $2,521,621,000 after acquiring an additional 1,821,025 shares during the period. 1832 Asset Management L.P. lifted its holdings in shares of Bank of Nova Scotia by 2.1% during the 1st quarter. 1832 Asset Management L.P. now owns 17,717,286 shares of the bank’s stock worth $840,331,000 after acquiring an additional 362,572 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Bank of Nova Scotia by 2.5% during the 1st quarter. Mackenzie Financial Corp now owns 15,158,112 shares of the bank’s stock worth $718,670,000 after acquiring an additional 374,487 shares during the period. Scotia Capital Inc. lifted its holdings in shares of Bank of Nova Scotia by 0.8% during the 1st quarter. Scotia Capital Inc. now owns 14,141,532 shares of the bank’s stock worth $670,495,000 after acquiring an additional 117,272 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Bank of Nova Scotia by 255.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 10,174,780 shares of the bank’s stock worth $482,590,000 after acquiring an additional 7,315,915 shares during the period. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Trading Down 0.1%

NYSE BNS opened at $64.61 on Thursday. Bank of Nova Scotia has a one year low of $44.09 and a one year high of $65.19. The company’s 50 day moving average price is $60.33 and its 200 day moving average price is $54.39. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $80.16 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 1.48 and a beta of 1.16.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Tuesday, August 26th. The bank reported $1.37 EPS for the quarter, beating the consensus estimate of $1.28 by $0.09. Bank of Nova Scotia had a net margin of 9.74% and a return on equity of 11.61%. The firm had revenue of $6.85 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the firm posted $1.63 earnings per share. Bank of Nova Scotia’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, sell-side analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BNS shares. Wall Street Zen upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Royal Bank Of Canada increased their price objective on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 27th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $86.00.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.