Davis-rea Ltd. Lowers stake in Bank of Nova Scotia (BNS)

Bank of Nova Scotia (BNS) : Davis-rea Ltd. reduced its stake in Bank of Nova Scotia by 1.87% during the most recent quarter end. The investment management company now holds a total of 151,206 shares of Bank of Nova Scotia which is valued at $7,930,755 after selling 2,882 shares in Bank of Nova Scotia , the firm said in a disclosure report filed with the SEC on Apr 26, 2016.Bank of Nova Scotia makes up approximately 5.33% of Davis-rea Ltd.’s portfolio.

Bank of Nova Scotia closed down -0.45 points or -0.86% at $52 with 5,98,548 shares getting traded on Monday. Post opening the session at $52.53, the shares hit an intraday low of $51.86 and an intraday high of $52.89 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Other Hedge Funds, Including , K.j. Harrison Partners Inc reduced its stake in BNS by selling 1,879 shares or 5.38% in the most recent quarter. The Hedge Fund company now holds 33,064 shares of BNS which is valued at $1,734,207. Bank of Nova Scotia makes up approx 0.91% of K.j. Harrison Partners Inc’s portfolio.Metlife Securities Inc reduced its stake in BNS by selling 28 shares or 0.99% in the most recent quarter. The Hedge Fund company now holds 2,811 shares of BNS which is valued at $144,907. Bank of Nova Scotia makes up approx 0.01% of Metlife Securities Inc’s portfolio. Integrated Wealth Management sold out all of its stake in BNS during the most recent quarter. The investment firm sold 14 shares of BNS which is valued $722.Carroll Financial Associates boosted its stake in BNS in the latest quarter, The investment management firm added 50 additional shares and now holds a total of 750 shares of Bank of Nova Scotia which is valued at $38,663. Bank of Nova Scotia makes up approx 0.01% of Carroll Financial Associates’s portfolio.

On the company’s financial health, Bank of Nova Scotia reported $1.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Mar 1, 2016. Analyst had a consensus of $1.41. The company had revenue of $6365.00 million for the quarter, compared to analysts expectations of $6324.19 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.35 EPS.

The Bank of Nova Scotia (the Bank) is a Canada-based diversified financial institution. The Bank offered a range of products and services including retail commercial corporate and investment banking to more than 21 million customers in more than 55 countries around the world. The Bank has four business lines: Canadian Banking International Banking Scotia Capital and Global Wealth Management. The Canadian Banking segment provided a range of banking and investing services to more than 7.7 million customers across Canada through a network of 1190 branches 3869 automated banking machine (ABMs) as well as telephone Internet banking and third-party channels. International Banking includes Scotiabank’s retail and commercial banking operations in more than 55 countries outside Canada. Global Wealth Management (GWM) consists of wealth management insurance and Global Transaction Banking businesses.

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