Glenmede Trust Co. NA Purchases New Position in Bank of Nova Scotia (The) $BNS

Glenmede Trust Co. NA bought a new position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,720 shares of the bank’s stock, valued at approximately $396,000.

Other large investors have also recently made changes to their positions in the company. Maseco LLP acquired a new position in Bank of Nova Scotia during the first quarter worth approximately $30,000. Swiss RE Ltd. purchased a new position in shares of Bank of Nova Scotia during the fourth quarter worth approximately $30,000. Brown Brothers Harriman & Co. purchased a new position in shares of Bank of Nova Scotia during the fourth quarter worth approximately $34,000. Quarry LP acquired a new position in shares of Bank of Nova Scotia in the 3rd quarter valued at $35,000. Finally, Virtus Advisers LLC purchased 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 and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BNS. Weiss Ratings raised shares of Bank of Nova Scotia from a “buy (b)” rating to a “buy (a-)” rating in a research report on Monday, August 3rd. Royal Bank Of Canada increased their target price on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $117.00.

Bank of Nova Scotia Price Performance

Shares of NYSE:BNS opened at $88.94 on Friday. Bank of Nova Scotia has a 52 week low of $55.84 and a 52 week high of $90.47. The company has a 50-day moving average price of $85.96 and a 200 day moving average price of $78.55. The company has a market cap of $108.62 billion, a P/E ratio of 16.97, a PEG ratio of 1.10 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 issued its earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $7.24 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same period in the prior year, the business posted $1.52 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Research analysts predict that Bank of Nova Scotia will post 5.99 earnings per share for the current year.

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.