Foundations Investment Advisors LLC Raises Stake in Bank of Nova Scotia (The) $BNS

Foundations Investment Advisors LLC increased its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 158.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 17,634 shares of the bank’s stock after purchasing an additional 10,813 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Bank of Nova Scotia were worth $1,299,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BNS. AQR Capital Management LLC boosted its position in shares of Bank of Nova Scotia by 111.2% in the 1st quarter. AQR Capital Management LLC now owns 19,096 shares of the bank’s stock worth $911,000 after buying an additional 10,056 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Bank of Nova Scotia in the 2nd quarter worth about $330,000. EverSource Wealth Advisors LLC boosted its position in shares of Bank of Nova Scotia by 42.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,165 shares of the bank’s stock worth $120,000 after buying an additional 649 shares in the last quarter. Sei Investments Co. boosted its position in shares of Bank of Nova Scotia by 2.1% in the 2nd quarter. Sei Investments Co. now owns 21,212 shares of the bank’s stock worth $1,172,000 after buying an additional 434 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of Bank of Nova Scotia by 61.1% in the 2nd quarter. Quantinno Capital Management LP now owns 66,962 shares of the bank’s stock worth $3,701,000 after buying an additional 25,400 shares in the last quarter. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Trading Up 0.4%

NYSE BNS opened at $80.07 on Friday. Bank of Nova Scotia has a 12 month low of $52.44 and a 12 month high of $82.22. The company has a 50-day moving average of $74.69 and a 200-day moving average of $73.37. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.05. The company has a market cap of $98.23 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.02 and a beta of 1.13.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data 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 company had revenue of $7.24 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter in the prior year, the company posted $1.52 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts predict that Bank of Nova Scotia will post 6.05 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on BNS. TD Securities reiterated a “hold” rating on shares of Bank of Nova Scotia in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of Nova Scotia in a research report on Friday, May 22nd. Royal Bank Of Canada boosted 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. Finally, Canaccord Genuity Group lowered shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $117.00.

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.