Connor Clark Lunn Investment Management Ltd. buys $484.9 Million stake in Bank of Nova Scotia (BNS)

Bank of Nova Scotia (BNS) : Connor Clark Lunn Investment Management Ltd. scooped up 1,097,097 additional shares in Bank of Nova Scotia during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 10,014,777 shares of Bank of Nova Scotia which is valued at $484.9 Million.Bank of Nova Scotia makes up approximately 3.67% of Connor Clark Lunn Investment Management Ltd.’s portfolio.

Other Hedge Funds, Including , Boston Private Wealth reduced its stake in BNS by selling 485 shares or 2.56% in the most recent quarter. The Hedge Fund company now holds 18,431 shares of BNS which is valued at $892,429. Bank of Nova Scotia makes up approx 0.04% of Boston Private Wealth’s portfolio.Spectrum Advisory Services Inc reduced its stake in BNS by selling 300 shares or 0.78% in the most recent quarter. The Hedge Fund company now holds 38,350 shares of BNS which is valued at $1.9 Million. Bank of Nova Scotia makes up approx 0.73% of Spectrum Advisory Services Inc’s portfolio.Toron Capital Markets reduced its stake in BNS by selling 119,161 shares or 4.98% in the most recent quarter. The Hedge Fund company now holds 2,276,022 shares of BNS which is valued at $109.5 Million. Bank of Nova Scotia makes up approx 6.54% of Toron Capital Markets’s portfolio.

Bank of Nova Scotia opened for trading at $48.87 and hit $49.73 on the upside on Wednesday, eventually ending the session at $49.67, with a gain of 2.41% or 1.17 points. The heightened volatility saw the trading volume jump to 8,45,319 shares. Company has a market cap of $59,733 M.

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.

Leave a Reply

Bank of Nova Scotia - Is it time to Sell?

Top Brokerage Firms are advising their investors on Bank of Nova Scotia. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.