Quantinno Capital Management LP Acquires 19,444 Shares of Bank of Nova Scotia (The) $BNS

Key Points

• Quantinno Capital Management increased its Bank of Nova Scotia stake by 17.8% in the first quarter, acquiring 19,444 shares and bringing its holdings to 128,720 shares valued at $8.92 million.
• Bank of Nova Scotia exceeded quarterly expectations, reporting $1.47 EPS versus the $1.42 consensus and $7.24 billion in revenue, up 8.3% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $117, while BNS recently traded at $87.16.

Quantinno Capital Management LP raised its holdings in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 17.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 128,720 shares of the bank's stock after acquiring an additional 19,444 shares during the quarter. Quantinno Capital Management LP's holdings in Bank of Nova Scotia were worth $8,922,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Lombard Odier Asset Management Switzerland SA raised its holdings in shares of Bank of Nova Scotia by 13.2% during the 1st quarter. Lombard Odier Asset Management Switzerland SA now owns 119,581 shares of the bank's stock valued at $8,291,000 after purchasing an additional 13,900 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Bank of Nova Scotia by 21.2% in the first quarter. Public Employees Retirement System of Ohio now owns 311,846 shares of the bank's stock worth $21,556,000 after purchasing an additional 54,593 shares in the last quarter. Compound Planning Inc. boosted its holdings in Bank of Nova Scotia by 4.7% in the first quarter. Compound Planning Inc. now owns 18,565 shares of the bank's stock worth $1,287,000 after purchasing an additional 825 shares in the last quarter. Bank of Nova Scotia increased its position in Bank of Nova Scotia by 1.1% during the first quarter. Bank of Nova Scotia now owns 63,864 shares of the bank's stock worth $4,429,000 after buying an additional 689 shares during the last quarter. Finally, Dickmeyer Boyce Financial Management Inc. acquired a new position in Bank of Nova Scotia during the first quarter worth $303,000. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock opened at $87.16 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. The firm has a fifty day simple moving average of $85.45 and a 200-day simple moving average of $78.27. The stock has a market capitalization of $106.44 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 1.09 and a beta of 1.11. Bank of Nova Scotia has a 1-year low of $55.51 and a 1-year high of $90.47.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last posted its earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.05. The business had revenue of $7.24 billion for the quarter, compared to analyst estimates of $7.13 billion. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. Bank of Nova Scotia's revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $1.52 EPS. On average, sell-side analysts expect that Bank of Nova Scotia will post 6.01 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on BNS. Weiss Ratings upgraded Bank of Nova Scotia from a "buy (b)" rating to a "buy (a-)" rating in a report on Monday. Royal Bank Of Canada increased their price objective on Bank of Nova Scotia from $98.00 to $117.00 and gave the company a "sector perform" rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $117.00.

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.

Want to see what other hedge funds are holding BNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source