5,964 Shares in Bank of Nova Scotia (The) $BNS Acquired by Sivia Capital Partners LLC

Key Points

• Sivia Capital Partners LLC acquired a new stake of 5,964 shares in the Bank of Nova Scotia valued at approximately $330,000 during the 2nd quarter.
• Several hedge funds, including Goldman Sachs and Canada Pension Plan Investment Board, made significant increases to their stakes in the bank, with Goldman Sachs boosting its position by 255.9% in the first quarter.
• Analysts have upgraded Bank of Nova Scotia's rating, moving from a "sell" to a "hold," with a consensus price target raised to $86.00.

Sivia Capital Partners LLC purchased 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 Securities & Exchange Commission. The firm purchased 5,964 shares of the bank's stock, valued at approximately $330,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bayforest Capital Ltd grew its position in shares of Bank of Nova Scotia by 2,005.4% in the first quarter. Bayforest Capital Ltd now owns 14,296 shares of the bank's stock valued at $678,000 after purchasing an additional 13,617 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Bank of Nova Scotia by 4.3% during the first quarter. Janney Montgomery Scott LLC now owns 10,801 shares of the bank's stock valued at $512,000 after purchasing an additional 442 shares in the last quarter. Korea Investment CORP boosted its holdings in Bank of Nova Scotia by 0.5% during the first quarter. Korea Investment CORP now owns 941,286 shares of the bank's stock valued at $44,623,000 after purchasing an additional 5,085 shares in the last quarter. Fox Run Management L.L.C. boosted its holdings in Bank of Nova Scotia by 146.0% during the first quarter. Fox Run Management L.L.C. now owns 12,042 shares of the bank's stock valued at $571,000 after purchasing an additional 7,146 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Bank of Nova Scotia by 5.5% during the first quarter. Bank of New York Mellon Corp now owns 1,155,791 shares of the bank's stock valued at $54,819,000 after purchasing an additional 60,506 shares in the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BNS. 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 report on Wednesday, August 27th. Wall Street Zen raised Bank of Nova Scotia from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the 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 Stock Performance

Bank of Nova Scotia stock traded up $0.29 during trading hours on Friday, hitting $64.93. The company had a trading volume of 1,520,680 shares, compared to its average volume of 1,992,289. The firm has a market cap of $80.56 billion, a PE ratio of 17.45, a PEG ratio of 1.50 and a beta of 1.16. 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 has a one year low of $44.09 and a one year high of $65.19. The firm has a 50-day moving average of $58.87 and a 200 day moving average of $53.51.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last released its quarterly earnings results on Tuesday, August 26th. The bank reported $1.37 earnings per share 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 firm had revenue of $6.85 billion for the quarter, compared to analysts' expectations of $9.29 billion. During the same period in the prior year, the firm earned $1.63 EPS. The business's revenue was up 13.4% on a year-over-year basis. On average, sell-side analysts expect that Bank of Nova Scotia will post 4.91 earnings per share for the current year.

About Bank of Nova Scotia

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.