Osmosis Investment Management UK Ltd Takes Position in Bank of Nova Scotia (The) $BNS

Osmosis Investment Management UK Ltd acquired a new position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 41,547 shares of the bank’s stock, valued at approximately $3,610,000.

Other large investors have also 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 about $30,000. Maseco LLP bought a new position in shares of Bank of Nova Scotia in the 1st quarter valued at about $30,000. CoreCap Advisors LLC grew its holdings in shares of Bank of Nova Scotia by 1,366.7% in the 2nd quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock valued at $38,000 after acquiring an additional 410 shares in the last quarter. Addison Advisors LLC acquired a new stake in shares of Bank of Nova Scotia in the second quarter valued at about $39,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Bank of Nova Scotia in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Down 0.0%

Shares of NYSE:BNS opened at $87.56 on Monday. Bank of Nova Scotia has a 52-week low of $56.55 and a 52-week high of $92.04. The company has a market capitalization of $106.72 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 1.08 and a beta of 1.11. The company has a 50-day simple moving average of $87.58 and a 200 day simple moving average of $79.60. 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 (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. The firm had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $7.13 billion. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.52 earnings per share. Sell-side analysts forecast that Bank of Nova Scotia will post 6.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BNS shares. Royal Bank Of Canada upped their target price on Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a report on Thursday, May 28th. Weiss Ratings lowered Bank of Nova Scotia from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, August 18th. Finally, Keefe, Bruyette & Woods started coverage on Bank of Nova Scotia in a research note on Friday. They set an “outperform” rating on the stock. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” 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.