Bank of Nova Scotia (The) $BNS Shares Purchased by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC boosted its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 5.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 243,615 shares of the bank’s stock after acquiring an additional 12,701 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Bank of Nova Scotia were worth $17,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Mondrian Investment Partners LTD bought a new stake in Bank of Nova Scotia in the third quarter valued at $30,000. Quarry LP bought a new stake in Bank of Nova Scotia in the third quarter valued at $35,000. Virtus Advisers LLC bought a new stake in Bank of Nova Scotia in the third quarter valued at $39,000. Nisa Investment Advisors LLC bought a new stake in Bank of Nova Scotia in the fourth quarter valued at $50,000. Finally, Fifth Third Bancorp lifted its stake in Bank of Nova Scotia by 79.2% in the fourth quarter. Fifth Third Bancorp now owns 688 shares of the bank’s stock valued at $51,000 after buying an additional 304 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

Shares of NYSE BNS opened at $81.58 on Wednesday. Bank of Nova Scotia has a fifty-two week low of $53.72 and a fifty-two week high of $82.22. The firm’s 50-day simple moving average is $76.34 and its 200 day simple moving average is $74.07. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The stock has a market cap of $99.94 billion, a P/E ratio of 15.57, a P/E/G ratio of 0.99 and a beta of 1.12.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share 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 business had revenue of $7.24 billion for the quarter, compared to analysts’ expectations of $7.13 billion. During the same period in the previous year, the business earned $1.52 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. Equities analysts expect that Bank of Nova Scotia will post 6.05 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BNS. Canaccord Genuity Group cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of Nova Scotia in a research note on Friday, May 22nd. TD Securities restated a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Finally, Royal Bank Of Canada lifted their price objective on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research note on Thursday, May 28th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.