Triasima Portfolio Management inc. Increases Holdings in Bank of Nova Scotia (The) $BNS

Triasima Portfolio Management inc. lifted its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 22.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 129,807 shares of the bank’s stock after purchasing an additional 23,925 shares during the quarter. Bank of Nova Scotia comprises 1.4% of Triasima Portfolio Management inc.’s holdings, making the stock its 23rd largest position. Triasima Portfolio Management inc.’s holdings in Bank of Nova Scotia were worth $9,586,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Mondrian Investment Partners LTD purchased a new position in shares of Bank of Nova Scotia in the third quarter worth about $30,000. Quarry LP purchased a new position in shares of Bank of Nova Scotia in the third quarter worth about $35,000. Virtus Advisers LLC purchased a new position in shares of Bank of Nova Scotia in the third quarter worth about $39,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Bank of Nova Scotia in the third quarter worth about $45,000. Finally, Allworth Financial LP raised its stake in shares of Bank of Nova Scotia by 122.0% in the third quarter. Allworth Financial LP now owns 715 shares of the bank’s stock worth $46,000 after purchasing an additional 393 shares during the last quarter. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Stock Up 0.1%

Shares of BNS stock opened at $78.04 on Monday. The stock has a 50 day moving average of $72.67 and a 200 day moving average of $71.65. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68. The stock has a market cap of $95.92 billion, a P/E ratio of 16.22, a P/E/G ratio of 0.94 and a beta of 1.13. Bank of Nova Scotia has a twelve month low of $49.85 and a twelve month high of $78.55.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Tuesday, February 24th. The bank reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.06. The company had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $6.99 billion. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.Bank of Nova Scotia’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $1.76 earnings per share. As a group, sell-side analysts expect that Bank of Nova Scotia will post 6.04 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on BNS shares. TD Securities reiterated a “hold” rating on shares of Bank of Nova Scotia in a research report on Tuesday, March 3rd. Weiss Ratings upgraded Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, February 25th. Canaccord Genuity Group cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Royal Bank Of Canada lifted their price target on Bank of Nova Scotia from $97.00 to $106.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 25th. 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 presently has an average rating of “Hold” and a consensus price target of $106.00.

About Bank of Nova Scotia

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.