State of Wyoming Invests $1.19 Million in Bank of Nova Scotia (The) $BNS

State of Wyoming purchased a new stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,640 shares of the bank’s stock, valued at approximately $1,185,000.

Other hedge funds have also added to or reduced their stakes in the company. Swiss RE Ltd. acquired a new stake in Bank of Nova Scotia in the fourth quarter worth about $30,000. Maseco LLP acquired a new position in Bank of Nova Scotia during the 1st quarter valued at about $30,000. Brown Brothers Harriman & Co. bought a new position in shares of Bank of Nova Scotia in the 4th quarter valued at about $34,000. Quarry LP acquired a new stake in shares of Bank of Nova Scotia during the 3rd quarter worth approximately $35,000. Finally, CoreCap Advisors LLC raised its stake in shares of Bank of Nova Scotia by 1,366.7% during the second quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock worth $38,000 after buying an additional 410 shares during the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

NYSE BNS 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. The firm’s fifty day moving average price is $86.93 and its two-hundred day moving average price is $79.12. Bank of Nova Scotia has a 1 year low of $56.54 and a 1 year high of $91.55. The firm has a market capitalization of $111.51 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.14 and a beta of 1.11.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The firm had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $7.13 billion. During the same quarter last year, the company posted $1.52 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, research analysts anticipate that Bank of Nova Scotia will post 5.98 EPS for the current year.

Analyst Ratings Changes

BNS has been the subject of a number of analyst reports. 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 stock a “sector perform” rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Moderate Buy” and an average price target of $117.00.

About Bank of Nova Scotia

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.