Bank of Nova Scotia (The) $BNS Holdings Increased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. raised its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 5.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,153,861 shares of the bank’s stock after purchasing an additional 59,120 shares during the period. Bank of Nova Scotia makes up about 2.4% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its 4th largest holding. Hillsdale Investment Management Inc.’s holdings in Bank of Nova Scotia were worth $85,253,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mondrian Investment Partners LTD purchased a new stake in Bank of Nova Scotia during the 3rd quarter valued at $30,000. Quarry LP purchased a new stake in Bank of Nova Scotia during the 3rd quarter valued at $35,000. Virtus Advisers LLC purchased a new stake in Bank of Nova Scotia during the 3rd quarter valued at $39,000. Nisa Investment Advisors LLC bought a new position in shares of Bank of Nova Scotia during the 4th quarter valued at $50,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Bank of Nova Scotia by 79.2% during the 4th 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 period. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BNS shares. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of Nova Scotia in a report on Friday, May 22nd. Canaccord Genuity Group cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Royal Bank Of Canada increased their price target on Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a report on Thursday. Finally, TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $117.00.

Bank of Nova Scotia Price Performance

NYSE BNS opened at $80.07 on Friday. The business’s fifty day moving average price is $74.69 and its 200-day moving average price is $73.37. The stock has a market capitalization of $98.41 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.01 and a beta of 1.13. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.05. Bank of Nova Scotia has a 1-year low of $52.44 and a 1-year high of $82.22.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, beating 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 firm had revenue of $7.24 billion for the quarter, compared to analysts’ expectations of $7.13 billion. During the same period in the prior year, the firm earned $1.52 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts predict that Bank of Nova Scotia will post 6.03 earnings per share for the current year.

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.