Vise Technologies Inc. Invests $1.18 Million in Bank of Nova Scotia (The) $BNS

Vise Technologies Inc. bought a new position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the second quarter, Holdings Channel.com reports. The institutional investor bought 21,387 shares of the bank’s stock, valued at approximately $1,182,000.

A number of other hedge funds have also recently modified their holdings of BNS. Addison Advisors LLC grew its holdings in shares of Bank of Nova Scotia by 6.5% during the 2nd quarter. Addison Advisors LLC now owns 3,275 shares of the bank’s stock worth $181,000 after purchasing an additional 199 shares during the period. Acadian Asset Management LLC increased its position in shares of Bank of Nova Scotia by 1,529.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,528,800 shares of the bank’s stock valued at $84,355,000 after purchasing an additional 1,435,000 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. lifted its holdings in Bank of Nova Scotia by 2.9% during the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,188,376 shares of the bank’s stock worth $65,755,000 after buying an additional 33,800 shares during the last quarter. PCJ Investment Counsel Ltd. increased its stake in Bank of Nova Scotia by 48.1% in the second quarter. PCJ Investment Counsel Ltd. now owns 51,100 shares of the bank’s stock valued at $2,827,000 after purchasing an additional 16,590 shares during the last quarter. Finally, Cypress Capital Management LLC WY acquired a new position in Bank of Nova Scotia in the second quarter valued at $33,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BNS shares. Wall Street Zen upgraded Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bank of Nova Scotia in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada lifted their target price on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $86.00.

Bank of Nova Scotia Stock Down 0.2%

Shares of Bank of Nova Scotia stock traded down $0.12 during trading on Thursday, reaching $67.71. The company had a trading volume of 62,560 shares, compared to its average volume of 1,891,375. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s fifty day moving average is $64.72 and its 200-day moving average is $58.19. Bank of Nova Scotia has a fifty-two week low of $44.09 and a fifty-two week high of $68.10. The company has a market cap of $83.82 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 1.49 and a beta of 1.17.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Tuesday, August 26th. The bank reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.09. The company had revenue of $6.85 billion for the quarter, compared to the consensus estimate of $9.29 billion. Bank of Nova Scotia had a net margin of 9.74% and a return on equity of 11.61%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the firm posted $1.63 EPS. On average, analysts anticipate that Bank of Nova Scotia will post 4.91 EPS for the current year.

About Bank of Nova Scotia

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.