Healthcare of Ontario Pension Plan Trust Fund Trims Stock Position in Bank of Nova Scotia (The) $BNS

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 41.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,539,629 shares of the bank’s stock after selling 3,908,312 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.45% of Bank of Nova Scotia worth $384,023,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Prospera Financial Services Inc raised its position in Bank of Nova Scotia by 3.9% in the fourth quarter. Prospera Financial Services Inc now owns 4,625 shares of the bank’s stock valued at $341,000 after purchasing an additional 173 shares during the period. Larson Financial Group LLC grew its holdings in shares of Bank of Nova Scotia by 22.3% during the 4th quarter. Larson Financial Group LLC now owns 1,280 shares of the bank’s stock worth $94,000 after purchasing an additional 233 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Bank of Nova Scotia by 8.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,193 shares of the bank’s stock worth $235,000 after purchasing an additional 239 shares during the period. Parallel Advisors LLC increased its position in shares of Bank of Nova Scotia by 8.5% during the 3rd quarter. Parallel Advisors LLC now owns 3,326 shares of the bank’s stock worth $215,000 after purchasing an additional 261 shares during the last quarter. Finally, Kathmere Capital Management LLC increased its position in shares of Bank of Nova Scotia by 8.5% during the 1st quarter. Kathmere Capital Management LLC now owns 3,579 shares of the bank’s stock worth $248,000 after purchasing an additional 281 shares during the last quarter. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Trading Up 0.5%

BNS opened at $87.03 on Friday. Bank of Nova Scotia has a 52 week low of $55.21 and a 52 week high of $90.47. The business has a fifty day simple moving average of $84.26 and a 200-day simple moving average of $77.51. The firm has a market cap of $106.61 billion, a P/E ratio of 16.61, a P/E/G ratio of 1.07 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.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter in the previous year, the business earned $1.52 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts expect that Bank of Nova Scotia will post 6.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BNS has been the topic of a number of recent analyst reports. Royal Bank Of Canada upped their target price on shares of 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of Nova Scotia in a research report on Friday, May 22nd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $117.00.

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.