Tacita Capital Inc Makes New $3.37 Million Investment in Bank of Nova Scotia (The) $BNS

Tacita Capital Inc purchased a new stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 38,834 shares of the bank’s stock, valued at approximately $3,369,000. Bank of Nova Scotia comprises about 1.8% of Tacita Capital Inc’s portfolio, making the stock its 13th largest position.

Other large investors also recently made changes to their positions in the company. Swiss RE Ltd. acquired a new stake in shares of Bank of Nova Scotia during the fourth quarter worth $30,000. Maseco LLP acquired a new position in Bank of Nova Scotia in the first quarter valued at $30,000. CoreCap Advisors LLC lifted its position in Bank of Nova Scotia by 1,366.7% during the second quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock worth $38,000 after buying an additional 410 shares during the period. Brown Brothers Harriman & Co. purchased a new position in Bank of Nova Scotia during the fourth quarter worth about $34,000. Finally, Global Retirement Partners LLC acquired a new stake in Bank of Nova Scotia in the 2nd quarter worth about $46,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on BNS. Weiss Ratings cut Bank of Nova Scotia from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday. Royal Bank Of Canada raised their target price on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 28th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $117.00.

Bank of Nova Scotia Trading Down 2.6%

BNS stock opened at $87.77 on Thursday. The company has a market cap of $106.98 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 1.12 and a beta of 1.11. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $87.43 and a 200-day simple moving average of $79.43. Bank of Nova Scotia has a 52 week low of $56.54 and a 52 week high of $92.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, topping 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 business had revenue of $7.24 billion for the quarter, compared to analyst estimates of $7.13 billion. During the same period last year, the company posted $1.52 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities research analysts expect that Bank of Nova Scotia will post 5.98 EPS for the current year.

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.