Mediolanum International Funds Ltd Acquires 136,418 Shares of Bank of Nova Scotia (The) $BNS

Mediolanum International Funds Ltd lifted its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 746.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,686 shares of the bank’s stock after acquiring an additional 136,418 shares during the period. Mediolanum International Funds Ltd’s holdings in Bank of Nova Scotia were worth $8,512,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cypress Capital Management LLC WY acquired a new stake in Bank of Nova Scotia in the 2nd quarter valued at approximately $33,000. VSM Wealth Advisory LLC bought a new stake in Bank of Nova Scotia in the 2nd quarter valued at approximately $55,000. MAI Capital Management boosted its position in Bank of Nova Scotia by 40.7% during the 1st quarter. MAI Capital Management now owns 1,211 shares of the bank’s stock worth $57,000 after acquiring an additional 350 shares during the last quarter. SVB Wealth LLC bought a new position in shares of Bank of Nova Scotia during the 1st quarter worth approximately $69,000. Finally, CWM LLC raised its holdings in shares of Bank of Nova Scotia by 15.8% in the second quarter. CWM LLC now owns 2,084 shares of the bank’s stock valued at $115,000 after purchasing an additional 285 shares during the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BNS has been the topic of several recent research reports. Royal Bank Of Canada lifted their price target on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 27th. Wall Street Zen upgraded Bank of Nova Scotia from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Bank of Nova Scotia in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of “Hold” and an average price target of $86.00.

Bank of Nova Scotia Stock Performance

Shares of NYSE BNS opened at $66.64 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $82.38 billion, a price-to-earnings ratio of 17.91, a P/E/G ratio of 1.49 and a beta of 1.17. The stock’s fifty day moving average price is $65.19 and its two-hundred day moving average price is $58.97. Bank of Nova Scotia has a one year low of $44.09 and a one year high of $68.10.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, August 26th. The bank reported $1.37 earnings per share (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 for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the prior year, the business posted $1.63 earnings per share. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities analysts forecast that Bank of Nova Scotia will post 4.91 EPS for the current year.

Bank of Nova Scotia Company 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.