Campbell & CO Investment Adviser LLC Purchases Shares of 88,225 Bank of Nova Scotia (The) $BNS

Key Points

• Campbell & CO Investment Adviser LLC has invested approximately $4.19 million in Bank of Nova Scotia, buying 88,225 shares during the 1st quarter.
• The Bank of Nova Scotia's quarterly earnings missed analyst expectations, reporting $1.06 EPS compared to the consensus estimate of $1.14.
• The bank recently increased its quarterly dividend to $0.7996 per share, representing a yield of 5.5%, with a payout ratio of 94.72%.

Campbell & CO Investment Adviser LLC purchased a new position in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 88,225 shares of the bank's stock, valued at approximately $4,185,000.

A number of other hedge funds have also recently modified their holdings of BNS. Goldman Sachs Group Inc. grew its holdings 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 worth $482,590,000 after purchasing an additional 7,315,915 shares during the period. Vanguard Group Inc. increased its holdings in Bank of Nova Scotia by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 53,184,171 shares of the bank's stock valued at $2,521,621,000 after purchasing an additional 1,821,025 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Bank of Nova Scotia during the fourth quarter worth $96,529,000. JPMorgan Chase & Co. boosted its position in shares of Bank of Nova Scotia by 25.2% during the first quarter. JPMorgan Chase & Co. now owns 7,168,917 shares of the bank's stock worth $340,022,000 after buying an additional 1,441,302 shares during the period. Finally, Value Partners Investments Inc. grew its stake in shares of Bank of Nova Scotia by 907.4% in the first quarter. Value Partners Investments Inc. now owns 1,124,324 shares of the bank's stock valued at $53,362,000 after buying an additional 1,012,715 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Royal Bank Of Canada boosted their target price on Bank of Nova Scotia from $80.00 to $86.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Wall Street Zen cut shares of Bank of Nova Scotia from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $86.00.

Bank of Nova Scotia Stock Performance

Shares of NYSE:BNS traded up $0.67 during trading on Thursday, reaching $62.40. The company had a trading volume of 1,988,348 shares, compared to its average volume of 1,998,835. Bank of Nova Scotia has a fifty-two week low of $44.09 and a fifty-two week high of $62.45. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03. The stock's fifty day moving average price is $55.87 and its 200 day moving average price is $51.93. The firm has a market capitalization of $77.53 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 1.57 and a beta of 1.14.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its quarterly earnings data on Tuesday, August 26th. The bank reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.09. The company had revenue of $6.85 billion during 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 11.71%. Bank of Nova Scotia'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 EPS. As a group, equities research analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current year.

Bank of Nova Scotia 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.