Intech Investment Management LLC Has $7.53 Million Stock Holdings in Bank of Nova Scotia (The) $BNS

Key Points

• Intech Investment Management LLC increased its stake in Bank of Nova Scotia by 49.0%, bringing its total holdings to approximately $7.53 million as of the most recent SEC filing.
• Bank of Nova Scotia reported $1.37 earnings per share (EPS) for the quarter, exceeding analysts' estimates of $1.28, while its revenue was $6.85 billion, which was lower than expected.
• Analysts have rated Bank of Nova Scotia with an average rating of "Hold" and a price target increase from $80.00 to $86.00 by the Royal Bank of Canada.

Intech Investment Management LLC lifted its holdings in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 49.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 158,750 shares of the bank's stock after buying an additional 52,193 shares during the period. Intech Investment Management LLC's holdings in Bank of Nova Scotia were worth $7,526,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Compagnie Lombard Odier SCmA acquired a new stake in shares of Bank of Nova Scotia in the first quarter worth $52,000. Independence Bank of Kentucky boosted 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 period. MAI Capital Management boosted 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 period. SVB Wealth LLC acquired a new stake in shares of Bank of Nova Scotia in the first quarter worth $69,000. Finally, North Capital Inc. acquired a new stake in shares of Bank of Nova Scotia in the first quarter worth $81,000. Institutional investors and hedge funds own 49.13% of the company's stock.

Bank of Nova Scotia Trading Up 0.4%

Shares of Bank of Nova Scotia stock traded up $0.28 on Wednesday, hitting $65.08. 351,138 shares of the company's stock traded hands, compared to its average volume of 1,981,101. The firm's 50-day moving average price is $58.28 and its two-hundred day moving average price is $53.18. The stock has a market capitalization of $80.74 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 1.48 and a beta of 1.16. Bank of Nova Scotia has a one year low of $44.09 and a one year high of $65.19. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.03 and a quick ratio of 1.03.

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

Wall Street Analysts Forecast Growth

BNS has been the subject of a number of research reports. Royal Bank Of Canada lifted their price objective on 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. Wall Street Zen raised Bank of Nova Scotia from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $86.00.

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.