25,233 Shares in Bank of Nova Scotia (The) $BNS Acquired by Abacus Wealth Partners LLC

Abacus Wealth Partners LLC bought a new position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 25,233 shares of the bank’s stock, valued at approximately $1,859,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in shares of Bank of Nova Scotia by 111.2% in the 1st quarter. AQR Capital Management LLC now owns 19,096 shares of the bank’s stock worth $911,000 after acquiring an additional 10,056 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Bank of Nova Scotia in the 2nd quarter worth approximately $330,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Bank of Nova Scotia by 42.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,165 shares of the bank’s stock worth $120,000 after acquiring an additional 649 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Bank of Nova Scotia by 2.1% in the 2nd quarter. Sei Investments Co. now owns 21,212 shares of the bank’s stock worth $1,172,000 after acquiring an additional 434 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in shares of Bank of Nova Scotia by 61.1% in the 2nd quarter. Quantinno Capital Management LP now owns 66,962 shares of the bank’s stock worth $3,701,000 after acquiring an additional 25,400 shares in the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Down 0.3%

Shares of NYSE:BNS opened at $77.07 on Friday. Bank of Nova Scotia has a one year low of $51.00 and a one year high of $79.00. The company has a 50 day moving average of $72.98 and a 200-day moving average of $72.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $94.72 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 0.93 and a beta of 1.13.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, February 24th. The bank reported $1.48 EPS for the quarter, topping the consensus estimate of $1.42 by $0.06. Bank of Nova Scotia had a net margin of 12.40% and a return on equity of 12.49%. The company had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $6.99 billion. During the same quarter in the previous year, the company earned $1.76 EPS. Bank of Nova Scotia’s revenue was up 2.9% on a year-over-year basis. On average, sell-side analysts forecast that Bank of Nova Scotia will post 6.05 earnings per share for the current year.

Analysts Set New Price Targets

BNS has been the topic of several research analyst reports. Royal Bank Of Canada increased their price target on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 25th. Canaccord Genuity Group cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings raised shares of Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, February 25th. Finally, TD Securities reissued a “hold” rating on shares of Bank of Nova Scotia in a research note on Tuesday, March 3rd. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $106.00.

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.