Maryland State Retirement & Pension System Purchases 5,030 Shares of Bank of Nova Scotia (The) $BNS

Maryland State Retirement & Pension System boosted its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 2.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,707 shares of the bank’s stock after purchasing an additional 5,030 shares during the period. Maryland State Retirement & Pension System’s holdings in Bank of Nova Scotia were worth $10,389,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA bought a new position in shares of Bank of Nova Scotia in the 1st quarter valued at about $52,000. MAI Capital Management grew its holdings in shares of Bank of Nova Scotia by 40.7% in the 1st quarter. MAI Capital Management now owns 1,211 shares of the bank’s stock valued at $57,000 after acquiring an additional 350 shares in the last quarter. SVB Wealth LLC bought a new position in shares of Bank of Nova Scotia in the 1st quarter valued at about $69,000. North Capital Inc. bought a new position in shares of Bank of Nova Scotia in the 1st quarter valued at about $81,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Bank of Nova Scotia by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,343 shares of the bank’s stock valued at $159,000 after acquiring an additional 336 shares in the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Down 1.3%

Shares of BNS stock opened at $63.35 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.66. Bank of Nova Scotia has a 12-month low of $44.09 and a 12-month high of $65.52. The firm has a 50 day moving average price of $61.16 and a two-hundred day moving average price of $54.95. The company has a market capitalization of $78.60 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.47 and a beta of 1.16.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Tuesday, August 26th. The bank reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $6.85 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same period in the previous year, the business earned $1.63 earnings per share. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, analysts predict that Bank of Nova Scotia will post 4.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BNS. Royal Bank Of Canada lifted their price target on 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. Wall Street Zen upgraded Bank of Nova Scotia from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Bank of Nova Scotia in a report on Wednesday. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” 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.