Hsbc Holdings PLC Invests $512,000 in Bank of Nova Scotia (The) $BNS

Hsbc Holdings PLC purchased a new position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 7,423 shares of the bank’s stock, valued at approximately $512,000.

A number of other large investors also recently bought and sold shares of the business. Maseco LLP purchased a new stake in Bank of Nova Scotia in the first quarter worth about $30,000. Swiss RE Ltd. bought a new position in shares of Bank of Nova Scotia during the fourth quarter valued at approximately $30,000. Brown Brothers Harriman & Co. bought a new position in shares of Bank of Nova Scotia during the fourth quarter valued at approximately $34,000. Quarry LP purchased a new position in shares of Bank of Nova Scotia during the third quarter valued at approximately $35,000. Finally, Virtus Advisers LLC purchased a new position in shares of Bank of Nova Scotia during the third quarter valued at approximately $39,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BNS has been the topic of several recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Bank of Nova Scotia in a research note on Friday, May 22nd. Royal Bank Of Canada lifted 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 note on Thursday, May 28th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Hold” and a consensus target price of $117.00.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $87.80 on Friday. Bank of Nova Scotia has a one year low of $55.21 and a one year high of $90.47. The company’s 50-day moving average is $85.15 and its 200 day moving average is $78.02. The company has a market capitalization of $107.23 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 1.09 and a beta of 1.11. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.04 and a current ratio of 1.04.

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 analysts’ consensus estimates of $1.42 by $0.05. The business had revenue of $7.24 billion during the quarter, compared to analyst estimates of $7.13 billion. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. Bank of Nova Scotia’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business earned $1.52 EPS. Sell-side analysts expect that Bank of Nova Scotia will post 6.01 EPS 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.