Hillsdale Investment Management Inc. Purchases 139,371 Shares of Bank of Nova Scotia (The) $BNS

Hillsdale Investment Management Inc. grew its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 12.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,293,232 shares of the bank’s stock after purchasing an additional 139,371 shares during the period. Bank of Nova Scotia accounts for 2.4% of Hillsdale Investment Management Inc.’s holdings, making the stock its 4th largest position. Hillsdale Investment Management Inc.’s holdings in Bank of Nova Scotia were worth $89,661,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Mn Services Vermogensbeheer B.V. grew its position in Bank of Nova Scotia by 17.0% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 285,843 shares of the bank’s stock worth $21,109,000 after acquiring an additional 41,443 shares during the period. Swiss Life Asset Management Ltd raised its position in Bank of Nova Scotia by 18.8% in the third quarter. Swiss Life Asset Management Ltd now owns 181,727 shares of the bank’s stock valued at $11,767,000 after purchasing an additional 28,745 shares during the period. Kepler Cheuvreux Suisse SA raised its position in Bank of Nova Scotia by 85.7% in the fourth quarter. Kepler Cheuvreux Suisse SA now owns 246,523 shares of the bank’s stock valued at $18,166,000 after purchasing an additional 113,765 shares during the period. Vanguard Group Inc. lifted its stake in shares of Bank of Nova Scotia by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 57,237,537 shares of the bank’s stock valued at $4,221,440,000 after purchasing an additional 1,169,073 shares during the last quarter. Finally, Triasima Portfolio Management inc. lifted its stake in shares of Bank of Nova Scotia by 22.6% in the 4th quarter. Triasima Portfolio Management inc. now owns 129,807 shares of the bank’s stock valued at $9,586,000 after purchasing an additional 23,925 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Up 0.5%

NYSE BNS opened at $87.99 on Tuesday. 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 $54.31 and a 52 week high of $88.17. The stock has a market capitalization of $107.78 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 1.08 and a beta of 1.11. The firm has a 50 day moving average of $82.30 and a two-hundred day moving average of $76.64.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced 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 for the quarter, compared to the consensus estimate of $7.13 billion. During the same period in the prior year, the firm posted $1.52 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, research analysts expect that Bank of Nova Scotia will post 6.01 EPS for the current fiscal year.

Analysts Set New Price Targets

BNS has been the subject of a number of recent analyst reports. 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 target price 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. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.