Caitong International Asset Management Co. Ltd Has $88,000 Stake in Bank of Nova Scotia (The) $BNS

Caitong International Asset Management Co. Ltd decreased its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 78.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,597 shares of the bank’s stock after selling 5,939 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Bank of Nova Scotia were worth $88,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale raised its stake in shares of Bank of Nova Scotia by 0.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 272,850 shares of the bank’s stock valued at $15,174,000 after purchasing an additional 1,361 shares during the period. Alan B Lancz & Associates Inc. acquired a new stake in shares of Bank of Nova Scotia in the 2nd quarter valued at about $216,000. Lorne Steinberg Wealth Management Inc. raised its stake in shares of Bank of Nova Scotia by 6.3% in the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 168,991 shares of the bank’s stock valued at $9,351,000 after purchasing an additional 10,045 shares during the period. Cidel Asset Management Inc. raised its stake in shares of Bank of Nova Scotia by 1.5% in the 2nd quarter. Cidel Asset Management Inc. now owns 176,053 shares of the bank’s stock valued at $9,715,000 after purchasing an additional 2,663 shares during the period. Finally, Callahan Advisors LLC raised its stake in shares of Bank of Nova Scotia by 20.2% in the 2nd quarter. Callahan Advisors LLC now owns 5,890 shares of the bank’s stock valued at $326,000 after purchasing an additional 990 shares during the period. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Up 0.5%

Bank of Nova Scotia stock opened at $64.79 on Friday. Bank of Nova Scotia has a 52 week low of $44.09 and a 52 week high of $65.52. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $80.38 billion, a P/E ratio of 17.42, a PEG ratio of 1.47 and a beta of 1.16. The stock has a 50-day simple moving average of $63.09 and a 200 day simple moving average of $56.34.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Bank of Nova Scotia in a research report on Friday. Royal Bank Of Canada lifted their target price 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. Finally, Wall Street Zen raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

Bank of Nova Scotia 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.