Abel Hall LLC Makes New Investment in Bank of Nova Scotia (The) $BNS

Abel Hall LLC bought a new position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,100 shares of the bank’s stock, valued at approximately $337,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Compagnie Lombard Odier SCmA bought a new position in Bank of Nova Scotia during the 1st quarter valued at approximately $52,000. MAI Capital Management increased its position in Bank of Nova Scotia by 40.7% during the 1st quarter. MAI Capital Management now owns 1,211 shares of the bank’s stock valued at $57,000 after buying an additional 350 shares in the last quarter. SVB Wealth LLC bought a new position in Bank of Nova Scotia during the 1st quarter valued at approximately $69,000. North Capital Inc. bought a new position in Bank of Nova Scotia during the 1st quarter valued at approximately $81,000. Finally, Cromwell Holdings LLC increased its position in Bank of Nova Scotia by 7.8% during the 2nd quarter. Cromwell Holdings LLC now owns 2,955 shares of the bank’s stock valued at $163,000 after buying an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Royal Bank Of Canada raised their price objective on Bank of Nova Scotia from $80.00 to $86.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Wall Street Zen raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Bank of Nova Scotia in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.00.

Bank of Nova Scotia Stock Performance

BNS stock opened at $63.35 on Thursday. The company has a market cap of $78.60 billion, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 1.47 and a beta of 1.16. Bank of Nova Scotia has a 1 year low of $44.09 and a 1 year high of $65.52. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s fifty day moving average price is $61.16 and its 200-day moving average price is $54.95.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Tuesday, August 26th. The bank reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.09. The firm had revenue of $6.85 billion for the quarter, compared to the consensus estimate of $9.29 billion. Bank of Nova Scotia had a return on equity of 11.61% and a net margin of 9.74%.The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the business posted $1.63 EPS. On average, equities analysts forecast that Bank of Nova Scotia will post 4.91 earnings per share for the current year.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.