71,032 Shares in Bank of Nova Scotia (The) $BNS Acquired by HAP Trading LLC

Key Points

• HAP Trading LLC acquired a new stake of 71,032 shares in Bank of Nova Scotia during Q2, valued at approximately $3.93 million.
• Scotiabank beat expectations in its latest quarter with $1.48 EPS (vs. $1.42 expected) and revenue of $7.40 billion, and the stock trades near its 1‑year high with a market cap around $91.7 billion.
• Analyst sentiment is mixed—two Buy and three Hold ratings produce a MarketBeat consensus of "Hold" and an average target of $106, with recent upgrades from Weiss and a target raise from RBC.

HAP Trading LLC acquired a new stake in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 71,032 shares of the bank's stock, valued at approximately $3,926,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Motco lifted its holdings in shares of Bank of Nova Scotia by 1.2% during the third quarter. Motco now owns 14,832 shares of the bank's stock valued at $959,000 after purchasing an additional 181 shares in the last quarter. Pacifica Partners Inc. increased its holdings in Bank of Nova Scotia by 1.0% in the 3rd quarter. Pacifica Partners Inc. now owns 18,998 shares of the bank's stock worth $1,227,000 after buying an additional 190 shares in the last quarter. Addison Advisors LLC raised its position in Bank of Nova Scotia by 6.5% in the 2nd quarter. Addison Advisors LLC now owns 3,275 shares of the bank's stock worth $181,000 after buying an additional 199 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Bank of Nova Scotia by 9.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,373 shares of the bank's stock valued at $153,000 after acquiring an additional 208 shares during the period. Finally, Fiera Capital Corp boosted its holdings in shares of Bank of Nova Scotia by 0.5% during the 3rd quarter. Fiera Capital Corp now owns 45,482 shares of the bank's stock valued at $2,940,000 after acquiring an additional 213 shares during the last quarter. Institutional investors own 49.13% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Weiss Ratings raised shares of Bank of Nova Scotia from a "hold (c+)" rating to a "buy (b)" rating in a report on Wednesday, February 25th. Raymond James Financial initiated coverage on shares of Bank of Nova Scotia in a research note on Tuesday, November 25th. They set an "outperform" rating for the company. TD Securities reissued a "hold" rating on shares of Bank of Nova Scotia in a report on Tuesday. Finally, Royal Bank Of Canada lifted their price objective on Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 25th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Bank of Nova Scotia has a consensus rating of "Hold" and an average target price of $106.00.

Bank of Nova Scotia Trading Up 1.3%

Shares of BNS stock opened at $74.38 on Thursday. Bank of Nova Scotia has a 1 year low of $44.09 and a 1 year high of $78.28. The firm has a fifty day moving average price of $74.80 and a 200-day moving average price of $68.96. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $91.69 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 0.89 and a beta of 1.10.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its earnings results on Tuesday, February 24th. The bank reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.06. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The company had revenue of $7.40 billion for the quarter, compared to analysts' expectations of $6.99 billion. During the same period last year, the firm earned $1.76 EPS. Bank of Nova Scotia's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities analysts predict that Bank of Nova Scotia will post 4.91 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.

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