SEB Asset Management AB Makes New $30.14 Million Investment in Bank of Nova Scotia (The) $BNS

SEB Asset Management AB bought a new position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 436,060 shares of the bank’s stock, valued at approximately $30,144,000.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at approximately $1,368,456,000. FIL Ltd boosted its stake in Bank of Nova Scotia by 49.5% in the 4th quarter. FIL Ltd now owns 16,489,540 shares of the bank’s stock worth $1,216,157,000 after purchasing an additional 5,461,052 shares during the period. AQR Capital Management LLC grew its position in Bank of Nova Scotia by 3,120.1% during the 4th quarter. AQR Capital Management LLC now owns 3,556,295 shares of the bank’s stock worth $262,284,000 after purchasing an additional 3,445,856 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in Bank of Nova Scotia during the 3rd quarter worth approximately $138,394,000. Finally, Alberta Investment Management Corp acquired a new stake in Bank of Nova Scotia during the 4th quarter valued at $121,032,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Royal Bank Of Canada increased their target price on Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a report on Thursday, May 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of Nova Scotia in a report on Friday, May 22nd. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $117.00.

Bank of Nova Scotia Price Performance

BNS opened at $89.41 on Monday. The stock has a fifty day moving average price of $83.25 and a 200 day moving average price of $77.07. 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 1 year low of $54.99 and a 1 year high of $90.47. The stock has a market cap of $109.52 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 1.11 and a beta of 1.11.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.05. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The company had revenue of $7.24 billion for the quarter, compared to analyst estimates of $7.13 billion. During the same period in the prior year, the firm posted $1.52 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. Analysts forecast that Bank of Nova Scotia will post 6.01 EPS for the current fiscal 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.