Alan B Lancz & Associates Inc. Makes New Investment in Bank of Nova Scotia (The) $BNS

Alan B Lancz & Associates Inc. bought a new position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,900 shares of the bank’s stock, valued at approximately $216,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Bank of Nova Scotia by 3.5% in the first quarter. Vanguard Group Inc. now owns 53,184,171 shares of the bank’s stock valued at $2,521,621,000 after buying an additional 1,821,025 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of Bank of Nova Scotia by 2.1% in the 1st quarter. 1832 Asset Management L.P. now owns 17,717,286 shares of the bank’s stock worth $840,331,000 after acquiring an additional 362,572 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Bank of Nova Scotia by 2.5% in the 1st quarter. Mackenzie Financial Corp now owns 15,158,112 shares of the bank’s stock valued at $718,670,000 after acquiring an additional 374,487 shares during the last quarter. Scotia Capital Inc. increased its holdings in shares of Bank of Nova Scotia by 0.8% in the 1st quarter. Scotia Capital Inc. now owns 14,141,532 shares of the bank’s stock valued at $670,495,000 after acquiring an additional 117,272 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Bank of Nova Scotia by 255.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 10,174,780 shares of the bank’s stock valued at $482,590,000 after acquiring an additional 7,315,915 shares in the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

BNS stock opened at $63.75 on Monday. Bank of Nova Scotia has a 1 year low of $44.09 and a 1 year high of $65.52. The stock has a market capitalization of $79.10 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.46 and a beta of 1.16. 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 stock’s fifty day moving average is $62.30 and its two-hundred day moving average is $55.83.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Tuesday, August 26th. The bank reported $1.37 EPS for the quarter, topping the consensus estimate of $1.28 by $0.09. The business had revenue of $6.85 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 earnings per share. On average, research analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BNS shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Bank of Nova Scotia in a report on Wednesday, October 8th. Wall Street Zen raised shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Royal Bank Of Canada boosted their price objective on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Bank of Nova Scotia Company Profile

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.