Public Employees Retirement System of Ohio Buys 54,593 Shares of Bank of Nova Scotia (The) $BNS

Public Employees Retirement System of Ohio increased its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 21.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 311,846 shares of the bank’s stock after purchasing an additional 54,593 shares during the period. Public Employees Retirement System of Ohio’s holdings in Bank of Nova Scotia were worth $21,556,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BNS. Maseco LLP bought a new stake in Bank of Nova Scotia in the 1st quarter worth approximately $30,000. Swiss RE Ltd. purchased a new stake in Bank of Nova Scotia during the 4th quarter valued at $30,000. Brown Brothers Harriman & Co. bought a new position in shares of Bank of Nova Scotia during the 4th quarter valued at $34,000. Quarry LP bought a new position in shares of Bank of Nova Scotia during the 3rd quarter valued at $35,000. Finally, Virtus Advisers LLC purchased a new position in shares of Bank of Nova Scotia in the 3rd quarter worth $39,000. Institutional investors own 49.13% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on BNS. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of Nova Scotia in a report on Friday, May 22nd. Royal Bank Of Canada increased their target price on Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a report on Thursday, May 28th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Bank of Nova Scotia has a consensus rating of “Hold” and a consensus price target of $117.00.

Bank of Nova Scotia Stock Up 0.5%

Shares of BNS stock opened at $87.03 on Friday. 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 stock has a market cap of $106.61 billion, a P/E ratio of 16.61, a P/E/G ratio of 1.08 and a beta of 1.11. The company has a 50 day simple moving average of $84.26 and a two-hundred day simple moving average of $77.51.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued 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 net margin of 13.38% and a return on equity of 13.16%. The business had revenue of $7.24 billion for the quarter, compared to analysts’ expectations of $7.13 billion. During the same quarter last year, the company posted $1.52 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. On average, research analysts expect that Bank of Nova Scotia will post 6.01 earnings per share for the current 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.