Danica Pension Livsforsikringsaktieselskab Invests $19.45 Million in Bank of Nova Scotia (The) $BNS

Danica Pension Livsforsikringsaktieselskab bought a new position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 157,790 shares of the bank’s stock, valued at approximately $19,451,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kepler Cheuvreux Suisse SA boosted its stake in Bank of Nova Scotia by 85.7% during the fourth quarter. Kepler Cheuvreux Suisse SA now owns 246,523 shares of the bank’s stock worth $18,166,000 after buying an additional 113,765 shares during the period. Vanguard Group Inc. lifted its holdings 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 worth $4,221,440,000 after acquiring an additional 1,169,073 shares during the last quarter. Triasima Portfolio Management inc. lifted its holdings 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 worth $9,586,000 after acquiring an additional 23,925 shares during the last quarter. PensionDanmark Pensionsforsikringsaktieselskab boosted its position in shares of Bank of Nova Scotia by 9.3% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 178,226 shares of the bank’s stock worth $15,460,000 after purchasing an additional 15,100 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Bank of Nova Scotia during the 4th quarter worth approximately $66,527,000. 49.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BNS. Weiss Ratings raised Bank of Nova Scotia from a “buy (b)” rating to a “buy (a-)” rating in a research report on Monday, August 3rd. Royal Bank Of Canada raised 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 report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.00.

Bank of Nova Scotia Trading Down 1.2%

NYSE BNS opened at $90.22 on Wednesday. The firm has a 50 day simple moving average of $87.31 and a 200-day simple moving average of $79.36. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.04 and a current ratio of 1.04. Bank of Nova Scotia has a one year low of $56.54 and a one year high of $92.04. The firm has a market cap of $109.96 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 1.14 and a beta of 1.11.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced 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 firm had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $7.13 billion. During the same quarter in the previous year, the business posted $1.52 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that Bank of Nova Scotia will post 5.98 EPS for the current fiscal year.

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.