Plato Investment Management Ltd Invests $3.59 Million in Bank of Nova Scotia (The) $BNS

Plato Investment Management Ltd bought a new position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 41,629 shares of the bank’s stock, valued at approximately $3,590,000.

Several other hedge funds also recently added to or reduced their stakes in BNS. Vanguard Group Inc. increased its holdings in shares of Bank of Nova Scotia by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 57,237,537 shares of the bank’s stock valued at $4,221,440,000 after acquiring an additional 1,169,073 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Bank of Nova Scotia by 1.7% during the 4th quarter. TD Asset Management Inc now owns 18,674,585 shares of the bank’s stock valued at $1,379,120,000 after buying an additional 310,564 shares during the last quarter. Norges Bank purchased a new stake in Bank of Nova Scotia in the 4th quarter worth approximately $1,368,456,000. FIL Ltd boosted its holdings in Bank of Nova Scotia by 49.5% during the fourth quarter. FIL Ltd now owns 16,489,540 shares of the bank’s stock worth $1,216,157,000 after buying an additional 5,461,052 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Bank of Nova Scotia by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 12,259,989 shares of the bank’s stock worth $923,232,000 after acquiring an additional 799,474 shares in the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Trading Down 0.1%

NYSE BNS opened at $91.49 on Monday. The firm’s fifty day moving average is $86.93 and its two-hundred day moving average is $79.14. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $111.51 billion, a PE ratio of 17.46, a P/E/G ratio of 1.14 and a beta of 1.11. Bank of Nova Scotia has a one year low of $56.54 and a one year high of $91.55.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its 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 company had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same period last year, the business posted $1.52 EPS. The company’s revenue was up 8.3% on a year-over-year basis. Analysts expect that Bank of Nova Scotia will post 5.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BNS shares. Weiss Ratings raised shares of Bank of Nova Scotia from a “buy (b)” rating to a “buy (a-)” rating in a research note on Monday, August 3rd. Royal Bank Of Canada boosted their target price on shares of 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. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Bank of Nova Scotia presently has an average rating of “Moderate Buy” and an average price target of $117.00.

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.