Greystone Managed Investments Lowers stake in Bank of Nova Scotia (BNS)

Bank of Nova Scotia (BNS) : Greystone Managed Investments reduced its stake in Bank of Nova Scotia by 12.78% during the most recent quarter end. The investment management company now holds a total of 3,167,287 shares of Bank of Nova Scotia which is valued at $160,423,087 after selling 464,141 shares in Bank of Nova Scotia , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Bank of Nova Scotia makes up approximately 6.28% of Greystone Managed Investments’s portfolio.

Other Hedge Funds, Including , Ubs Asset Management Americas Inc reduced its stake in BNS by selling 546,099 shares or 16.61% in the most recent quarter. The Hedge Fund company now holds 2,741,111 shares of BNS which is valued at $141,413,916. Bank of Nova Scotia makes up approx 0.16% of Ubs Asset Management Americas Inc’s portfolio.Glenmede Trust Co Na boosted its stake in BNS in the latest quarter, The investment management firm added 74 additional shares and now holds a total of 3,553 shares of Bank of Nova Scotia which is valued at $178,929. Integrated Wealth Management added BNS to its portfolio by purchasing 1,050 company shares during the most recent quarter which is valued at $52,763. Bank of Nova Scotia makes up approx 0.02% of Integrated Wealth Management’s portfolio.

Bank of Nova Scotia opened for trading at $51.68 and hit $52.02 on the upside on Wednesday, eventually ending the session at $51.89, with a gain of 0.27% or 0.14 points. The heightened volatility saw the trading volume jump to 5,38,917 shares. Company has a market cap of $62,410 M.

On the company’s financial health, Bank of Nova Scotia reported $1.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 31, 2016. Analyst had a consensus of $1.42.Analysts expectations of $ 6513.28.During the same quarter in the previous year, the company posted $1.42 EPS.

Many Wall Street Analysts have commented on Bank of Nova Scotia. Bank of Nova Scotia was Downgraded by Macquarie to ” Neutral” on Jun 9, 2016.

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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