Mediolanum International Funds Ltd Boosts Stock Position in Bank of Nova Scotia (The) $BNS

Mediolanum International Funds Ltd increased its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 21.6% during the 1st quarter, HoldingsChannel reports. The firm owned 160,374 shares of the bank’s stock after buying an additional 28,494 shares during the period. Mediolanum International Funds Ltd’s holdings in Bank of Nova Scotia were worth $10,816,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BNS. Norges Bank bought a new position in Bank of Nova Scotia during the fourth quarter valued at $1,368,456,000. FIL Ltd increased its holdings in shares of Bank of Nova Scotia by 49.5% in the 4th quarter. FIL Ltd now owns 16,489,540 shares of the bank’s stock worth $1,216,157,000 after buying an additional 5,461,052 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Bank of Nova Scotia by 3,120.1% in the 4th quarter. AQR Capital Management LLC now owns 3,556,295 shares of the bank’s stock worth $262,284,000 after buying an additional 3,445,856 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Bank of Nova Scotia during the 3rd quarter valued at about $138,394,000. Finally, Alberta Investment Management Corp purchased a new stake in shares of Bank of Nova Scotia during the 4th quarter valued at about $121,032,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Wall Street Analysts Forecast Growth

BNS has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of Nova Scotia in a research report on Friday, May 22nd. Royal Bank Of Canada upped their price objective on Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research report on Thursday, May 28th. 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, the company currently has an average rating of “Hold” and an average price target of $117.00.

Bank of Nova Scotia Trading Down 0.0%

Shares of BNS opened at $89.41 on Monday. Bank of Nova Scotia has a twelve month low of $54.99 and a twelve month high of $90.47. The company has a market cap of $109.52 billion, a P/E ratio of 17.06, a P/E/G ratio of 1.11 and a beta of 1.11. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. The company’s fifty day simple moving average is $83.25 and its 200-day simple moving average is $77.07.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. The firm had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $7.13 billion. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 EPS. As a group, analysts expect that Bank of Nova Scotia will post 6.01 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.