Five Oceans Advisors Makes New $218,000 Investment in Bank of Nova Scotia (The) $BNS

Key Points

• Five Oceans Advisors invested approximately $218,000 in Bank of Nova Scotia by purchasing 3,938 shares in the second quarter, highlighting a growing interest from institutional investors.
• Bank of Nova Scotia reported $1.37 EPS for the quarter, exceeding estimates, and its revenue of $6.85 billion was up 13.4% from the previous year.
• Analysts have shown a positive outlook for Bank of Nova Scotia, with an average price target revised to $86.00 and several analysts upgrading their ratings from "sell" to "hold."

Five Oceans Advisors purchased a new position in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,938 shares of the bank's stock, valued at approximately $218,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Compagnie Lombard Odier SCmA acquired a new stake in shares of Bank of Nova Scotia in the first quarter worth about $52,000. Independence Bank of Kentucky lifted its position in shares of Bank of Nova Scotia by 38.4% in the first quarter. Independence Bank of Kentucky now owns 1,175 shares of the bank's stock worth $56,000 after buying an additional 326 shares during the last quarter. MAI Capital Management lifted its position in shares of Bank of Nova Scotia by 40.7% in the first quarter. MAI Capital Management now owns 1,211 shares of the bank's stock worth $57,000 after buying an additional 350 shares during the last quarter. SVB Wealth LLC bought a new position in shares of Bank of Nova Scotia in the first quarter worth about $69,000. Finally, North Capital Inc. bought a new position in shares of Bank of Nova Scotia in the first quarter worth about $81,000. Institutional investors and hedge funds own 49.13% of the company's stock.

Bank of Nova Scotia Trading Up 0.5%

Shares of BNS opened at $64.38 on Friday. Bank of Nova Scotia has a 12-month low of $44.09 and a 12-month high of $65.19. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $79.87 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 1.48 and a beta of 1.16. The stock's 50-day moving average price is $59.63 and its 200 day moving average price is $53.92.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last issued its quarterly earnings results on Tuesday, August 26th. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.09. Bank of Nova Scotia had a return on equity of 11.61% and a net margin of 9.74%.The firm had revenue of $6.85 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period in the previous year, the company posted $1.63 earnings per share. The company's quarterly revenue was up 13.4% compared to the same quarter last year. As a group, research analysts predict that Bank of Nova Scotia will post 4.91 earnings per share for the current year.

Analysts Set New Price Targets

BNS has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Bank of Nova Scotia from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Royal Bank Of Canada lifted their price objective 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, August 27th. Four research 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.com, the company has an average rating of "Hold" and an average 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.

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