70,384 Shares in Bank of Nova Scotia (The) $BNS Purchased by Quantbot Technologies LP

Quantbot Technologies LP purchased a new stake in 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. The firm purchased 70,384 shares of the bank’s stock, valued at approximately $6,112,000.

A number of other hedge funds have also added to or reduced their stakes in BNS. Maseco LLP purchased a new stake in shares of Bank of Nova Scotia in the first quarter worth approximately $30,000. Swiss RE Ltd. purchased a new stake in Bank of Nova Scotia in the 4th quarter valued at $30,000. Brown Brothers Harriman & Co. purchased a new stake in Bank of Nova Scotia in the 4th quarter valued at $34,000. Quarry LP bought a new position in Bank of Nova Scotia during the 3rd quarter valued at $35,000. Finally, CoreCap Advisors LLC boosted its holdings in Bank of Nova Scotia by 1,366.7% during the 2nd quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock worth $38,000 after acquiring an additional 410 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on BNS. Weiss Ratings downgraded shares of Bank of Nova Scotia from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday. Royal Bank Of Canada lifted their price objective on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 28th. Finally, Keefe, Bruyette & Woods began coverage on Bank of Nova Scotia in a research note on Friday. They issued an “outperform” rating on the stock. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.00.

Bank of Nova Scotia Stock Performance

NYSE BNS opened at $87.56 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04. Bank of Nova Scotia has a 1 year low of $56.55 and a 1 year high of $92.04. The stock has a market capitalization of $106.72 billion, a PE ratio of 16.71, a P/E/G ratio of 1.09 and a beta of 1.11. The company’s 50 day simple moving average is $87.58 and its two-hundred day simple moving average is $79.57.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, topping the consensus estimate of $1.42 by $0.05. The business had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $7.13 billion. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.52 earnings per share. Analysts predict that Bank of Nova Scotia will post 6.03 earnings per share for the current fiscal year.

Bank of Nova Scotia Company 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.