38,834 Shares in Bank of Nova Scotia (The) $BNS Purchased by Tacita Capital Inc

Tacita Capital Inc bought a new stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 38,834 shares of the bank’s stock, valued at approximately $3,369,000. Bank of Nova Scotia makes up approximately 1.8% of Tacita Capital Inc’s holdings, making the stock its 13th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of BNS. Maseco LLP purchased a new stake in shares of Bank of Nova Scotia during the 1st quarter worth approximately $30,000. Swiss RE Ltd. purchased a new position in Bank of Nova Scotia in the 4th quarter valued at approximately $30,000. Brown Brothers Harriman & Co. acquired a new position in Bank of Nova Scotia during the fourth quarter worth $34,000. Quarry LP purchased a new stake in Bank of Nova Scotia during the third quarter worth $35,000. Finally, CoreCap Advisors LLC boosted its position in Bank of Nova Scotia by 1,366.7% during the second quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock worth $38,000 after purchasing an additional 410 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Down 2.6%

BNS opened at $87.77 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The firm has a market cap of $106.98 billion, a P/E ratio of 16.75, a PEG ratio of 1.12 and a beta of 1.11. Bank of Nova Scotia has a 52 week low of $56.54 and a 52 week high of $92.04. The business’s fifty day simple moving average is $87.43 and its 200 day simple moving average is $79.43.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.05. The firm had revenue of $7.24 billion during 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 firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.52 EPS. As a group, equities research analysts anticipate that Bank of Nova Scotia will post 5.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BNS. Royal Bank Of Canada raised their price target on 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 lowered shares of Bank of Nova Scotia from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of “Hold” and a consensus price target of $117.00.

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.