Public Employees Retirement System of Ohio Boosts Stock Position in Bank of Nova Scotia (The) $BNS

Public Employees Retirement System of Ohio lifted its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 21.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 311,846 shares of the bank’s stock after acquiring an additional 54,593 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Bank of Nova Scotia were worth $21,556,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swiss RE Ltd. bought a new stake in Bank of Nova Scotia during the 4th quarter worth approximately $30,000. Maseco LLP bought a new position in shares of Bank of Nova Scotia in the first quarter worth approximately $30,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Bank of Nova Scotia in the fourth quarter worth $34,000. Quarry LP purchased a new stake in shares of Bank of Nova Scotia in the third quarter worth $35,000. Finally, Virtus Advisers LLC bought a new stake in shares of Bank of Nova Scotia during the 3rd quarter valued at $39,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Stock Up 0.5%

Shares of BNS opened at $87.03 on Friday. The business’s 50 day moving average is $84.26 and its 200 day moving average is $77.51. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. Bank of Nova Scotia has a 12-month low of $55.21 and a 12-month high of $90.47. The company has a market capitalization of $106.61 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 1.08 and a beta of 1.11.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.05. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The business had revenue of $7.24 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same period in the prior year, the company posted $1.52 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. Research analysts expect that Bank of Nova Scotia will post 6.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BNS has been the topic of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Bank of Nova Scotia in a research note on Friday, May 22nd. Royal Bank Of Canada increased their price target 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 investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.