Chesapeake Capital Corp IL Takes Position in Bank of Nova Scotia (The) $BNS

Chesapeake Capital Corp IL acquired a new position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the third quarter, HoldingsChannel.com reports. The fund acquired 18,768 shares of the bank’s stock, valued at approximately $1,213,000. Bank of Nova Scotia makes up about 1.1% of Chesapeake Capital Corp IL’s holdings, making the stock its 16th biggest holding.

Several other large investors have also recently modified their holdings of BNS. Motco lifted its position in Bank of Nova Scotia by 1.2% during the third quarter. Motco now owns 14,832 shares of the bank’s stock valued at $959,000 after purchasing an additional 181 shares during the period. Pacifica Partners Inc. raised its stake in shares of Bank of Nova Scotia by 1.0% during the 3rd quarter. Pacifica Partners Inc. now owns 18,998 shares of the bank’s stock valued at $1,227,000 after buying an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Bank of Nova Scotia by 9.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,373 shares of the bank’s stock valued at $153,000 after buying an additional 208 shares during the period. Fiera Capital Corp lifted its holdings in shares of Bank of Nova Scotia by 0.5% in the 3rd quarter. Fiera Capital Corp now owns 45,482 shares of the bank’s stock valued at $2,940,000 after buying an additional 213 shares during the period. Finally, Cohen Investment Advisors LLC boosted its stake in shares of Bank of Nova Scotia by 3.1% in the third quarter. Cohen Investment Advisors LLC now owns 7,236 shares of the bank’s stock worth $468,000 after buying an additional 218 shares during the last quarter. Institutional investors own 49.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on BNS. Royal Bank Of Canada upped their price objective on Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 25th. Raymond James Financial initiated coverage on shares of Bank of Nova Scotia in a report on Tuesday, November 25th. They set an “outperform” rating for the company. 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 report on Wednesday, February 25th. Finally, TD Securities reaffirmed a “hold” rating on shares of Bank of Nova Scotia in a report on Tuesday, March 3rd. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $106.00.

Bank of Nova Scotia Trading Down 1.7%

Shares of BNS stock opened at $68.73 on Friday. Bank of Nova Scotia has a fifty-two week low of $44.09 and a fifty-two week high of $78.28. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s fifty day moving average is $74.39 and its two-hundred day moving average is $69.56. The firm has a market capitalization of $84.73 billion, a P/E ratio of 14.29, a PEG ratio of 0.85 and a beta of 1.10.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, February 24th. The bank reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.06. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The business had revenue of $7.40 billion for the quarter, compared to analysts’ expectations of $6.99 billion. During the same period in the previous year, the firm posted $1.76 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts expect that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

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.