Sei Investments Co. Raises Position in Bank of Nova Scotia (The) $BNS

Sei Investments Co. increased its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 25.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,810 shares of the bank’s stock after purchasing an additional 6,290 shares during the period. Sei Investments Co.’s holdings in Bank of Nova Scotia were worth $2,135,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BNS. Prospera Financial Services Inc raised its stake in shares of Bank of Nova Scotia by 3.9% in the fourth quarter. Prospera Financial Services Inc now owns 4,625 shares of the bank’s stock worth $341,000 after purchasing an additional 173 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Bank of Nova Scotia by 22.3% in the fourth quarter. Larson Financial Group LLC now owns 1,280 shares of the bank’s stock worth $94,000 after purchasing an additional 233 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Bank of Nova Scotia by 8.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,193 shares of the bank’s stock worth $235,000 after buying an additional 239 shares during the period. Parallel Advisors LLC grew its holdings in Bank of Nova Scotia by 8.5% during the 3rd quarter. Parallel Advisors LLC now owns 3,326 shares of the bank’s stock valued at $215,000 after buying an additional 261 shares in the last quarter. Finally, Kathmere Capital Management LLC boosted its holdings in shares of Bank of Nova Scotia by 8.5% during the 1st quarter. Kathmere Capital Management LLC now owns 3,579 shares of the bank’s stock valued at $248,000 after purchasing an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Up 0.1%

Shares of NYSE:BNS opened at $88.94 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. Bank of Nova Scotia has a 52-week low of $55.84 and a 52-week high of $90.47. The business has a 50-day moving average price of $85.96 and a 200-day moving average price of $78.59. The stock has a market cap of $108.62 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.10 and a beta of 1.11.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, beating the consensus estimate of $1.42 by $0.05. The business had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $7.13 billion. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 EPS. Equities analysts predict that Bank of Nova Scotia will post 5.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price target 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. Weiss Ratings raised Bank of Nova Scotia from a “buy (b)” rating to a “buy (a-)” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $117.00.

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.