Adams Asset Advisors Lowers stake in Bank of Nova Scotia (BNS)

Bank of Nova Scotia (BNS) : Adams Asset Advisors reduced its stake in Bank of Nova Scotia by 23.79% during the most recent quarter end. The investment management company now holds a total of 72,055 shares of Bank of Nova Scotia which is valued at $3,567,443 after selling 22,497 shares in Bank of Nova Scotia , the firm said in a disclosure report filed with the SEC on Apr 14, 2016.Bank of Nova Scotia makes up approximately 0.65% of Adams Asset Advisors’s portfolio.

Bank of Nova Scotia opened for trading at $48.88 and hit $49.805 on the upside on Monday, eventually ending the session at $49.75, with a gain of 0.48% or 0.24 points. The heightened volatility saw the trading volume jump to 6,43,333 shares. Company has a market cap of $59,829 M.

Other Hedge Funds, Including , Acadian Asset Management reduced its stake in BNS by selling 39,200 shares or 5.42% in the most recent quarter. The Hedge Fund company now holds 684,444 shares of BNS which is valued at $33,886,822. Bank of Nova Scotia makes up approx 0.17% of Acadian Asset Management’s portfolio. Benjamin F. Edwards Company added BNS to its portfolio by purchasing 350 company shares during the most recent quarter which is valued at $17,329.Rathbone Brothers Plc boosted its stake in BNS in the latest quarter, The investment management firm added 120 additional shares and now holds a total of 258,188 shares of Bank of Nova Scotia which is valued at $12,312,986. Bank of Nova Scotia makes up approx 0.76% of Rathbone Brothers Plc’s portfolio.Kistler-tiffany Companies boosted its stake in BNS in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 1,190 shares of Bank of Nova Scotia which is valued at $56,751. Bank of Nova Scotia makes up approx 0.03% of Kistler-tiffany Companies’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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