Quantinno Capital Management LP Has $8.92 Million Stock Position in Bank of Nova Scotia (The) $BNS

Quantinno Capital Management LP raised its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 17.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 128,720 shares of the bank’s stock after buying an additional 19,444 shares during the quarter. Quantinno Capital Management LP’s holdings in Bank of Nova Scotia were worth $8,922,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BNS. Maseco LLP acquired a new stake in shares of Bank of Nova Scotia in the first quarter worth $30,000. Swiss RE Ltd. acquired a new position in Bank of Nova Scotia during the 4th quarter valued at $30,000. Brown Brothers Harriman & Co. acquired a new position in Bank of Nova Scotia during the 4th quarter valued at $34,000. Quarry LP bought a new stake in Bank of Nova Scotia in the 3rd quarter valued at $35,000. Finally, Virtus Advisers LLC bought a new stake in Bank of Nova Scotia in the 3rd quarter valued at $39,000. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Stock Performance

Shares of NYSE BNS opened at $87.16 on Wednesday. The business has a fifty day simple moving average of $85.45 and a 200 day simple moving average of $78.27. 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 firm has a market capitalization of $106.44 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 1.09 and a beta of 1.11. Bank of Nova Scotia has a one year low of $55.51 and a one year high of $90.47.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada boosted their price objective on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a report on Thursday, May 28th. Weiss Ratings upgraded shares of Bank of Nova Scotia from a “buy (b)” rating to a “buy (a-)” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $117.00.

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.