Oslo Pensjonsforsikring AS Takes $422,000 Position in Bank of Nova Scotia (The) $BNS

Oslo Pensjonsforsikring AS acquired a new stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,100 shares of the bank’s stock, valued at approximately $422,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BNS. Vanguard Group Inc. boosted its stake in shares of Bank of Nova Scotia by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 57,237,537 shares of the bank’s stock worth $4,221,440,000 after purchasing an additional 1,169,073 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Bank of Nova Scotia by 1.7% during the fourth 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 period. Norges Bank purchased a new position in shares of Bank of Nova Scotia during the fourth quarter valued at approximately $1,368,456,000. FIL Ltd boosted its position 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 acquiring an additional 5,461,052 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Bank of Nova Scotia by 7.0% in 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 during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

Shares of NYSE:BNS opened at $87.54 on Thursday. The business has a 50-day moving average of $83.88 and a two-hundred day moving average of $77.36. The firm has a market capitalization of $107.23 billion, a PE ratio of 16.71, a P/E/G ratio of 1.08 and a beta of 1.11. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04. Bank of Nova Scotia has a 12 month low of $55.21 and a 12 month high of $90.47.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data 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. The business had revenue of $7.24 billion for the quarter, compared to analyst estimates of $7.13 billion. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.52 EPS. As a group, research analysts forecast that Bank of Nova Scotia will post 6.01 earnings per share for the current year.

Wall Street Analyst Weigh In

BNS has been the topic of several analyst reports. Royal Bank Of Canada raised their price objective on Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a report on Thursday, May 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of Nova Scotia in a research note on Friday, May 22nd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia has an average rating of “Hold” and a consensus target price 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.