Voya Investment Management LLC Takes $9.52 Million Position in Bank of Nova Scotia (The) $BNS

Key Points

• Voya Investment Management LLC acquired 200,726 shares of Bank of Nova Scotia, valued at approximately $9.5 million, during the 1st quarter of the year.
• Bank of Nova Scotia reported $1.37 earnings per share in its latest quarterly results, exceeding estimates, and showed a 13.4% increase in revenue compared to the previous year.
• Analysts have a consensus rating of "Hold" for Bank of Nova Scotia, with a target price increase from $80 to $86 by Royal Bank of Canada.

Voya Investment Management LLC purchased a new position in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 200,726 shares of the bank's stock, valued at approximately $9,516,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Compagnie Lombard Odier SCmA acquired a new stake in Bank of Nova Scotia in the 1st quarter valued at $52,000. Independence Bank of Kentucky grew its position in Bank of Nova Scotia by 38.4% during the 1st quarter. Independence Bank of Kentucky now owns 1,175 shares of the bank's stock worth $56,000 after purchasing an additional 326 shares in the last quarter. MAI Capital Management boosted its holdings in 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 purchasing an additional 350 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of Bank of Nova Scotia during the first quarter valued at about $69,000. Finally, North Capital Inc. acquired a new position in Bank of Nova Scotia in the first quarter worth about $81,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock traded up $0.29 during mid-day trading on Friday, hitting $64.93. 1,520,680 shares of the company traded hands, compared to its average volume of 1,992,289. Bank of Nova Scotia has a one year low of $44.09 and a one year high of $65.19. The stock has a market cap of $80.56 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.49 and a beta of 1.16. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a fifty day moving average price of $58.87 and a 200-day moving average price of $53.48.

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 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.09. The firm had revenue of $6.85 billion during the quarter, compared to analyst estimates of $9.29 billion. Bank of Nova Scotia had a net margin of 9.74% and a return on equity of 11.61%. The business's quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.63 EPS. On average, equities analysts predict that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BNS. Royal Bank Of Canada raised their price target on shares of 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 shares of 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 issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price 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.